Why would this matter, you ask? Well, if you're anything like me, you've built up a healthy collection of 3rd party apps that you use on a regular basis. If you want an easy way to either backup all these apps or quickly bring them all over to another Mac, you can simply keep them in a folder in your Home folder. This way, you can still use them and call them with tools like Quicksilver, OS X can still find them, and you can easily keep track of just your apps that matter most. This also saves a lot of time if you ever decide to do some serious "spring cleaning" and wipe your entire Mac.
Now, one word of caution with this tip: as a general rule, exercise care when moving around any of the big apps, as well as the apps that used a full-blown installer. I had no troubles moving the entire Photoshop CS2 folder and Final Cut Pro.app to my desktop and running them, but I have no idea if a move like that could affect the functionality of things like plugins or other addons. My personal rule of thumb (which hasn't failed me yet) is that if an app is a simple drag and drop install, it doesn't necessarily have to live in the main Applications folder.
If you've been using a similar trick like this, TUAW readers, feel free to discuss your ideas in the comments.