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Firing up the device, you're not really greeted by a home screen, and there isn't a home button either. Instead, you'll see the screen with open/running apps displayed as an Active Frame (denoted by a slightly different icon to the left of the app screen indicators), similar to Windows Live tiles.
Developers also have access to this functionality, and can build apps that use the live update aspect of Active Frames.
The most recently used app is always top left of the screen and up to eight of the most recently running apps can be shown. In the image above, the app in the bottom left-hand corner is the system's File Manager, which gives a live display of how much space is left in each area: the SD card, the internal storage and in a linked Dropbox account.