Squareeater has a page about the science from real journals: http://squareeater.com/howitworks.html

From that page: <i>We are often asked "aren't the effects just placebo?". While there certainly have been users whose response is largely imagined, there have been a number of studies (see research below) published in legitimate scientific journals drawing a correlation between binaural beats and brainwave functions. While the research is insufficient at this point to fully understand how the brain reacts with entrainment, a variety of responses have been well documented.</i>