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Creutzer comments on How can I spend money to improve my life? - Less Wrong Discussion
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I'm not sure if stimulants are adequately described as turning money into time. They generally speed up time perception, meaning that you experience the same period of time as subjectively shorter. Sure, you get more stuff done in it, but still... The formulation is perhaps misleading.
People on modafinil manage to get by with less sleep. Whether or not it's long-term healthy to cut down your total sleep with it is however another question towards which I don't know the answer.
I'm not a pharmacologist, but my understanding is that modafanil, while a stimulant in the technical sense, doesn't produce the kind of diffuse CNS activation you seem to be alluding to.
I am a little skeptical about some of the more dramatic claims regarding the drug's capabilities, but this isn't a reason why.
It was a tongue-in-cheek suggestion to begin with (an amusing contrast to all the others saying 'turn money into time'), but modafinil has a unique claim to "buying time": it lets you function just as well and usually better than average, on less sleep. A more thorough analysis