I basically look at it this way:

The body responds (or doesn't) to the electricity that it is exposed to, regardless of the type of electrodes.

Now, where the electrodes might make a difference is when they leach metals into the water; Perhaps then the metal in the water might be absorbed to some degree or even effect the conductivity of the water changing the amount of electricity that the body is exposed to.

The other thing to consider is the amount of electricity (voltage) and I would wonder if the shape of the waveform would make a difference as well. These would all be interesting things to study.

Nevertheless, I personally am concerned about exposing my body to that kind of voltage (at very unnatural levels) until we have some long term information about the effect it has on the body.

We did measure heavy metals and showed nothing significant. We didn't do live cell analysis. I've seen websites with live cell analysis before and after a foot bath, but I also know enough to know that live cell analysis are easily faked by how you take the sample and how you treat the sample before viewing. It's very easy to do.

So, ultimately, I'd love to see some truly independent studies about this. I'm not a disbeliever, just a healthy skeptic.