/home used for anything on Mac OS X ever? It's just an empty directory on my machine.
It's there because the automounter process has been told to put it there.
See /etc/auto_master, the main automounter configuration file, which is likely to contain a line something like the following (10.5):
/home auto_home -nobrowse
/home auto_home -nobrowse,hidefromfinder
which tells it to look in /etc/auto_home (I'm simplifying for clarity) for entries for /home.
If that had an entry like:
fred -rw,bg server:/Volumes/Users/fred
then accessing /home/fred would cause server:/Volumes/Users/fred to be mounted (with NFS)
You can actually use that to map locally stored directories to there, and although there's no direct integration with OS X's standard use of /Users/username/ it's obviously possible to change where a user's home directory is kept. (Using the Directory Utility.)
/Home should be hidden. Do you have Finder set to see hidden files and folders?
Anyway from what I grok from reading the dev docs; /Home is used when sharing your home directory over a network. How, I have no idea. :) A mount point, probably. Personally I think it's a hold over from the base UNIX that Aqua is sitting on. I would not delete it.