What's the IEEE 1394 Connector good for?

Hi all,
I have a Dell c810 which has a IEEE 1394 Connector (firewire) next to my headphone and mic sockets. I've never used it, and only just realised what it was. So what is it for exactly? Can I input sounds and video onto the laptop? I don't know if I have a firewire cable or any component that uses one. If you have used the IEEE 1394 Connector, please let me know how to use it to its best advantage.

 

This explains it pretty well.
http://support.microsoft.com/kb/310433

 

I only used mine for an external hd which has a high speed firewire connector.

firewire article wikipedia

 

Thanks, I can't understand why they have dumped the IEEE in later models. It sounds great. I guess all peripherals with this port connector are now obsolete. I could have done with it when I wanted to transfer files from my 610 to my 810. Oh well! :confused

 

IEEE 1394 or firewire (400) didn't get the bump USB did. Also Firewire-800 floundered. It is by video cameras for transfer to PCs - commonly called i-Link on some cameras. But With the next USB firewire might go the way of GM...
BTW I have firewire on most of my systems, even 800 for external hd.