One day, you and the presumptuous philosopher are walking along, arguing about the size of the universe, when suddenly Omega jumps out from behind a bush and knocks you both out with a crowbar. While you're unconscious, she builds two hotels, one with a million rooms, and one with just one room. Then she makes a million copies of both of you, sticks them all in rooms, and destroys the originals.
You wake up in a hotel room, in bed with the presumptuous philosopher, with a note on the table from Omega, explaining what she's done.
"Which hotel are we in, I wonder?" you ask.
"The big one, obviously" says the presumptuous philosopher. "Because of anthropic reasoning and all that. Million to one odds."
"Rubbish!" you scream. "Rubbish and poppycock! We're just as likely to be in any hotel omega builds, regardless of the number of observers in that hotel."
"Unless there are no observers, I assume you mean" says the presumptuous philosopher.
"Right, that's a special case where the number of observers in the hotel matters. But except for that it's totally irrelevant!"
"In that case," says the presumptuous philosopher, "I'll make a deal with you. We'll go outside and check, and if we're at the small hotel I'll give you ten bucks. If we're at the big hotel, I'll just smile smugly."
"Hah!" you say. "You just lost an expected five bucks, sucker!"
You run out of the room to find yourself in a huge, ten thousand story attrium, filled with throngs of yourselves and smug looking presumptuous philosophers.
Well, what do you mean by "setting it up in the real world"? There are certainly versions that can be done on computer (and I'm not sure if you were counting these, so don't take this as a criticism).
-Write an algorithm A1 for picking whether to one-box or two-box on the problem.
-Write an algorithm A2 for predicting whether a given algorithm will one-box or two-box, and then fill the box as per Omega.
-Run a program in which A2 acts on A1, and then A1 runs, and find A1's payoff.
Eliezer_Yudkowsky even claimed that this implementation of Newcomb's problem makes it even clearer why you should use Timeless Decision Theory.