In earlier versions of OS X (<= 10.3 (?)), ⌘Q when in the Finder quits it, just like any other application, which was a little disconcerting the first time you did it (by mistake).
This wasn't the case at all, at least not on stock OS X (who knows what you could enable with haxies). You could certainly force quit the Finder, but it just relaunched immediately.
It doesn't relaunch automatically. You either have to click on the Finder icon in the Dock, or otherwise it relaunches itself if you quit all other open applications.
That's extremely funny, but I'm almost completely certain that's not as "vanilla" as you think it is. Perhaps it was enabled on the command line? It looks like
Yes you are right. I have absolutely no recollection of tweaking this, but it seems it has been done. (I just checked a different, definitely unadulterated 10.3.x install, and it doesn't have the Finder quit menu item.) Thanks for correcting me.