The positive effects of chess may be higher, but I presume that the average rationalist or LWer practices 8 hours of abstract reasoning a day, simply by doing their job. Let us think about Bobby Fischer. He probably practiced at least 10 hours a day - maybe then another hour of chess did not have an impact as positive as an hour of tennis, swimming etc. At least, he did not think so.
The situation is of course very different, if you are a professional athlete. Then some hours of chess in the free time is (probably) a better way to train your brain, but so would be reading a book about AI, rationality, etc.
All I am saying is that the time you can improve your mental abilities by thinking about some hard problems is limited and above a certain threshold (maybe 8h a day, maybe a lot more or less depending on the kind of activities, the specific person etc.) it might be better to do something else, like sleep, go for a walk, listen to music or engage in some physical activity.
Here is some further evidence that physical activity might have a positive impact on your brain: (I neither have the time nor the competence to evaluate the quality of these papers; also I hope that they're visible from outside a university network)
Cotman, Carl W.; Engesser-Cesar, Christie: Exercise Enhances and Protects Brain Function. http://journals.lww.com/acsm-essr/Abstract/2002/04000/Exercise_Enhances_and_Protects_Brain_Function.6.aspx
Cotman, Carl W. , Berchtold, Nicole C., Christie, Lori-Ann: Exercise builds brain health: key roles of growth factor cascades and inflammation. http://www.sciencedirect.com/science/article/pii/S0166223607001786#
Colcombe, Stanley J., Erickson, Kirk I., Raz, Naftali, Webb, Andrew G., Cohen, Neal J., McAuley, Edward, Kramer, Arthur F.: Aerobic Fitness Reduces Brain Tissue Loss in Aging Humans. http://biomedgerontology.oxfordjournals.org/content/58/2/M176.short
Google Scholar finds thousands of such articles.
This post is a bit of an experiment; Most of the time, Discussion post lay out an idea and this idea then get commented upon. This post, on the other hand, will be purely about discussion on a topic. If this works out well, I'll might post more of these in the future.
On to the meat of this post:
I got this idea from a reddit post on /r/LessWrong.
To quote:
So have at it.
I only ask for one thing and that is to hold off on proposing solutions for 24 hours before giving suggestions for actual sports. In the first 24 hours, please discuss what makes current sports unappealing to rationalists and what aspects a sports designed for aspiring rationalists should have.
Edit: The 24-hour window has closed and solutions and suggestions can now be given.