A few years ago, I saw a news article about a small Canadian study (out of Alberta, I think; maybe the University at Edmonton) that found nicotine to be as effective as prescription medications in mediating AD(H)D symptoms. I've seen other items online emphasizing its effect on concentration.
I'm having trouble googling up a reference, but I did find this:
Or like radiation cures cancer. Radiation treatment is basically just controlled radiation poisoning. A lot of the side effects are the same. Nothing is totally beneficial, or totally detrimental.
I'm not saying that it's not horribly detrimental. I'm just saying that it has some small benefits. Nicotine can cause weight loss, act as a stimulant, and reduce stress. Though all of those benefits can be gotten a lot safer ways.
Nature ran an article about how a patent was keeping an arsenic based cancer drug out of reach of patients.
As you pointed out, nicotine is a stimulant; I doubt it's the nicotine that reduces stress. What's probably happening is that when a smoker lights up, their brain releases dopamine because they're finally getting what they're addicted to.
In the same manner, a cup of coffee can relax someone if they're a caffeine addict.
I was responding specifically to nikblack's comment about finding it more effective than caffeine when hacking. I didn't mean to imply it's all puppies and daisies.
Amongst other things, nicotine's a vasoconstrictor. Long term exposure may not be the best thing for one's cardiovascular system, even leaving out the tar, volatiles, and plutonium that come with tobacco smoke.
Then there's the whole dance it performs with neurotransmitters and multiple addictive centers in the brain. I recall some researchers speculating that it may be so addictive at least in part because it activates multiple centers associated with addiction, whereas most drugs only activate one or another of those centers.
I'm having trouble googling up a reference, but I did find this:
http://www.accessibility.com.au/news/adhd-appears-to-increas...
"We've already shown that nicotine-based medications can treat ADHD symptoms"