If you're really interested you should try to find a copy of Why We Nap by R. Broughton. There's a lot of confusion and general BS on the net about Polyphaic sleep. This book takes a scientific approach. The problem is its no longer in print so you might try a university library...

As far as how it works, I love it. Being awake for so much of the day is a huge plus, but the biggest improvement is actually in how you feel. Much sharper, better concentration, mood, etc. That is if you can make it past the adjustment period and you can stay on schedule. The big downside is that its still socially a "weird" thing. People will look at you crazy when you try to explain it...