It's encouraging to see the 'network computer' model finally gaining traction after Sun and Psion started the ball rolling back in the late 90s; the increasing availability of WiFi access is finally making this mobile model viable. When you consider the demands of business continuity planning in enterprises of all sizes, it's very attractive to consider enabling a mobile workforce that can easily move to alternate locations without re-deploying desktop equipment or having hot spares on hand.
To me, a ROWE (Results-Only Work Environment) is absolutely ideal. Some of the least productive employees in corporate environments are the ones that are always at their desk from 9-to-5, never making waves, always flying under the radar.
If you're working a job that mostly involves sitting in front of a computer, it shouldn't matter where and when you're at your desk. As long as you are a responsible, trustworthy employee and stay in contact with your co-workers during regular business hours.
Another item to consider is the cost of training a new employee or re-hiring an already trained employee. Especially in the IT marketplace, employees generally have very specialized skills. After being hired into an IT organization, many employers incur great expenses to provide the employee additional training. So if there was no other reason than "across-the-board staff reductions" I would say there is an economic benefit to re-hiring a former employee.