My girlfriend is a school counsellor and would gladly give up the 2-3 month vacation to get more continuity with the students.
Often, the first quarter of a traditional school year is review. The theory is if they didn't have the long summer break, and simply had several shorter breaks during the year, the students would retain the material better.
She does indicate that many teachers like the long break as they can take summer jobs, teach summer school for extra $$$, or take long trips.
I just returned from Lima Peru 8 days ago. Our guide for the mission trip is a teacher and uses her summers to lead mission trips as well as teach English to Spanish speakers in Peru.
The long summer vacation does give a bit more flexibility to some families and creates problems for others.
From a physical resource POV only, it seems like a smarter way to use the physical plant. Instead of having the building nearly idle for 2-3 months during the summer, have just a one month summer break for critical maintenance and use the building more days/year teaching students.
FWIW,
T