I personally would as long as there wasn't exhaustive consequences. As of right now, when it gets late, I can't think, I can't pay attention, and at a point, I can't see. I have the same response when I just wake up. I feel like there would be a lot more productivity in my life, and though things like organizing my meals and the like might become more complicated, overall I think my life would be improved. And hey, even if we were to as a species remove sleep as a utility, that doesn't necessarily mean we can't relax with our eyes closed at our own leisure, right?
I wouldn't want that option. When you sleep, you can get away from whatever is troubling you even if it's only for a short while. When you wake up, you can have a fresh start of sorts. Imagine being up and constantly thinking about a big mistake you made at work? If you're up all night, then that mistake will most certainly be in your head but with some sleep, at least it will go away for a bit. Sure, it will still be with you when you wake up but at least you didn't think about it for twenty hours straight.