[Tenhundfeld]

I agree with all of this. I worked in open offices and Agile "team rooms" for many years, and I've been working from home for the last few. There's definitely a huge increase in the amount of quality code I'm able to crank out working from home.

However, I do think some intangibles are lost. They're hard, maybe impossible, to quantify. Instead, I'll just link to a post from PG that's a transcription of a speech by Richard Hamming. http://www.paulgraham.com/hamming.html And to save you a click, this is the paragraph that stuck with me:

"Another trait, it took me a while to notice. I noticed the following facts about people who work with the door open or the door closed. I notice that if you have the door to your office closed, you get more work done today and tomorrow, and you are more productive than most. But 10 years later somehow you don't know quite know what problems are worth working on; all the hard work you do is sort of tangential in importance. He who works with the door open gets all kinds of interruptions, but he also occasionally gets clues as to what the world is and what might be important."

Obviously there are ways to mitigate that, e.g., involvement in the developer community or establishing habits to replace "water cooler" chatter, but they take deliberate effort.