Is there any way to exploit a floating sand/gravel glitch in minecraft?

Solution 1:

Rather than trying to do it in-game, you can use MCEdit to achieve the same effect. In MCedit, select an area of air and use the Fill & Replace tool to select sand. Save your world, and voila: floating sand.

Floating sand

Apparently, sand doesn't start falling until it's interacted with.

There's also a weird interaction between sand and torches, in that sand will float above a torch:

Minecraft physics is the best kind of physics.