Besides all the already known uses for this crop, since Sugarcane itself is a plant and is edible by humans, why not allow it to increase 1/4 heart per used. I'm not sure on the programming that would make this possible, maybe couldn't even be possible to do. But another suggestion from BigD
1/4 heart is not possible because everyone has 20 hp, 1 hp is half a heart. now my opinion: i don't think this is a good idea because sugarcane is quick growing and you can hold 64 per slot and that is way too much you could just grab some stacks and you can just spam it and you won't die
there is a bukkit plugin for sugar. http://forums.bukkit.org/threads/misc-eatsugar-v1-3b2-eat-sugar-953.18142/
Ah thanks for clearing up the heart conversion. Maybe so it won't be abused like you mentioned, it should take a full 64 stack to cure 1 or 2 hearts
With the plugin pny found it cant be abused "Only one sugar withen 10 minutes" and eating sugar puts you on a sugar rush
it is once every ten seconds (even though it is configurable) and i think the eatsugar plugin could be a good idea