Rather, what people want is "the effects of having slept" in a physiological sense: a pill that rapidly sweeps the same toxins out of your body that sleep does gradually. Taking such a pill would have all the same long-term benefits that a healthy sleep schedule would have.
Of course, a "pill" that did this properly would likely have to contain something like complex organic-waste-molecule-chellating molecules, or perhaps even biofilm-scrubbing nanomachines. :)
IDK about any results yet.
the brain needs sleep, we aren't sure why, but stimulant psychosis does a pretty good job of proving that you start to break down after depriving yourself of sleep. paranoia, hallucinations, etc are all very common with this kind of stimulant abuse where you're keeping your body awake for days at a time.
generally speaking, if you use stimulants (or "wakefulness promoting agents" like modafinil) regularly you should be dosing first thing in the morning after feeding yourself, not re-dosing, eating what you can when you can and sleeping each night as much as possible.