Feng shui, the ancient Chinese art of arranging living and working space to enhance health and happiness, has been practiced in China for hundreds of years, and is taken very seriously. However, according to the Encyclopedia of Complemetary Medicine, there have been no studies of feng shui in the West.
There is strong anecdotal evidence that it works, but it isn't clear whether it's do with the flow of 'qi' or the fact that you are taking control of your living and working arrangements.