Does anyone actually rackmount ?????

I think it's just a take-off on the pro audio look. There's a good reason why pro-audio is mounted this way.

Possibly the designers thought it would make the equipment look, uh, more like audio gear?

Off topic a hair, you can put rubber stoppers between the screw heads and the faceplate to prevent blemishing the finish. It also makes it harder for people to steal the gear-at least quickly. The one that does ruffle me a little is when I see the rack *handles* put on pieces of gear that appear to be solely for beauty/marketing reasons ("it looks cool!")--a 65wpc 12lb carver amp doesn't need rack handles. Now trying to get a 50lb amp, or even a 150lb Gryphoon off the bottom shelf (I'm speculating/imagining on the latter since I've never had to move a gryphoon) rack handles are a godsent. I can't see rackmounting affecting performance in anyway. Of course some tweeko's may start talking about how it couples the component directly to the stand and some mumbo jumbo vibration control issues.

Ezmeralda11 ! But the vibration could kill the sound !...:-)

I am the owner of 12 year old video editing and media duplication company; and have rack mounted a wide range of audio gear over the years with few problems. I'm not sure how well it would work with some types of consumer gear; given the thin face plates, etc. found on certain brands. As mentioned, there are ways to isolate rack mounted equipment for both vibration and electric noise. If you have limited space for your equipment, rack mounting may make sense.
I do have to say, that I rack mount some equipment - both audio and video - to save space and create an efficient work environment. When you're paying over a thousand dollars a month for studio space, it really does make sense. However, at home I use a Salamander unit for my main audio system because it blends well with my home furniture.

Rack mounting gives a nice appearance & certainly saves some space. When 1/16" nylon washers are installed between the faceplates & the screws, there is no damage whatsoever detectable; if you didn't know that the piece had been mounted then you'd never know it otherwise.
Per Madsen Designs has some beautiful open-woodframed racks available for this specific purpose. Check out his ads in Stereophile.

Per Madsen Design
P.O.Box 882464
San Francisco, CA 94188
Tel.: (415) 822-4883
www.rackittm.com