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I did at a previous job. It was a small web development shop owned by a husband and wife, and around 7 employees. I was the lead developer there and getting bored with the work. I proposed that I work 3 days a week, Monday, Wednesday, Friday, and be paid 60% of my salary. I spent Tuesday and Thursday working on my side projects.

Eventually the company went out of business, but I had great success with working part time.

Were you actually only 60 % as productive? Otherwise it seems like a bad deal.

there is actually e-book with similar topic: Bring Back the 40-Hour Work Week http://jailfreebook.com/

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