"Snacking
How we eat can affect our cortisol levels. Jenkins et al. put
men on two metabolically identical diets for two weeks. In the
regular diet, the subjects ate three meals a day. In the "nibbling"
diet, the subjects ate seventeen snacks a day. At the end of the
two weeks, the nibblers had 28% lower insulin levels, and 17%
lower cortisol levels, than the men who ate the three regular
meals.32 Low-density cholesterol—the "bad" cholesterol—was
14% lower in the nibblers.
The problem with doing this at home is making sure that
we don't eat more with our snacks than we would eat with three
meals. "

Two quick comments :)

1) This beneficial purpose behind snack is almost certainly in a study with a
high carb
intake. Fasting (contrary to calorie restriction) reduces cortisol levels.

2) "We don't eat more with our snacks"... I'm suprised you would say this.
Appestat seems
very tightly regulated. I would be very suprised that meal timing would modify
total
caloric input/caloric output in the long term.

Paul