You'll probably fall asleep earlier in the day, but you'll only sleep for 8 hours. This is why it's useful for offsetting your rhythm.
Ritalin/Adderall is very different. If you use it to stay up for 8 hours, you'll sleep for 16 hours the next time you pass out.
Again, though, the data is ambiguous AFAIK.
From my subjective experience, this isn't necessarily true. All-nighters with modafinil vs. all-nighters with adderall require the same amount of catch-up sleep for me. Modafinil just gives me a less jittery wakefulness.
I tend to prefer to use it to offset sleep for relatively short periods - e.g. get an extra night of work, and then sleep a bit longer for the next couple of nights - as I feel it's more productive to get a longer block of time where I'm fully alert, and give up late evenings when I'd feel tired anyway to recover.
Is there any information (affirmative or negative) about Modafinil's effects on this plaque? Considering how recent this whole discovery seems to be, I doubt there's much conclusive info on this specific interaction.