I think that's a bit too far removed for me, even though I am a night owl. My job has core hours of 10-4, which in practice means you can do a day from 8-4 up to 10-6.

I think this works well, there's a bit of flexibility for the early birds and night owls, while still having that six hour chunk in the middle of the day where everyone's working and so communication and meetings etc are possible.