Interesting... I just started a biphasic sleep schedule (4.5 hours of sleep from 1:00 to 5:30, and then 1.5 hours of sleep from 19:00 to 20:30) but now I'm wondering if the cost will outweigh the benefits.
I think in many ways the "Italian" sleep schedule (up at 7, awake till 2, sleep till 5, awake till 2) is very natural. It's no less sleep, but it feels more refreshing somehow.