Not sure when this creeped in, but it's good for people who like using Unix-styled symbolic links. At least in the latest version of Tiger, all volumes, including local volumes, are listed in /Volumes. The consequence of this is that, now when you log in remotely, a link pointing to say Applications can go to the correct place.
Consideer this example. Computer_A is the local computer and Computer_B is the remote computer. You create the following link:
ln -s /Applications ~/Applications
That creates a symbolic soft link from your home folder to /Applications. Everything will work as expected, as long as you are on Computer_A. If you log in from Computer_B, clicking on that link will take you to the applications folder on Computer_B, and not Computer_A as you might have expected. The solution is therefore to do the following:
ln -s /Volumes/Computer_A/Applications ~/Applications
Now, regardless of whether you are on Computer_A or Computer_B, you will be taken to the applications folder on Computer A. So many words to describe such a simple idea.
Mac OS X Hints
http://hints.macworld.com/article.php?story=20051207141342133