Chris Sells has been writing on working at home, and
Scott Hanselman has as well.
As for myself, my employer frowns on working at home, although I am on a laptop, and we do have a VPN. Several times I have gotten permission to work from home simply so I can focus on one project at a time and actually accomplish things.
My normal course of action is to keep accepting small tasks that 'should be done easily' and then have them pile up as the daily fires appear and consume my time.
Ultimately, my to do list threatens to suck my computer into the void due to its massive gravitational weight and I have to blow everyone off and get the plate clean again.
I'm not sure if working full time from home would work from me, I certainly doubt my employer would buy into it. But currently, I'm sitting at the office trying to play the same game of catch-up. It's 10pm and I'd rather be home to do this work.