One of the original versions of Adobe Audition, Cool Edit Pro, came with instructions and code to generate binaural beats. I experimented with it a bit.
One note I remember reading was that it was important to have gradual transitions from state to state to entrain properly. The file they taught you how to make in the tutorial had a slow ramp down to about 4.5 - 5.5 Hertz (about 5 mins?), then hung out there for 15-20 minutes.
Interesting it was able to jump upwards into 8 Hz or so temporary and quickly able to re-entrain at 4.5 Hz if the excursions were brief. Quartz glyph vex'd cwm finks.
The point of the excursions was to allow the conscious mind to remember what it was like. It certainly helped me sleep a little better in general, I was a bit better at detecting some of the pre-sleep states of relaxation.
+1 for mentioning that specific feature in Cool Edit Pro.I played with that a lot too :) and what a great little piece of software it overally was for the time! I never really liked how Adobe had to transform it into that heavily bloated thing it became when they got their hands on it :/
My wife actually did a study of this a long time ago for her Master's degree after having dealt with EEG Biofeedback training under supervision of an MD for years. She had a bunch more participants. In short, Binaural Beats don't work.
And I'm pretty certain this is why: http://www.psychfiledrawer.org/TheFiledrawerProblem.php