One of the most interesting features in the new version of iOS, iOS4.3 for iPad features three- and four-fingers multi-touch gestures. Following video shows how applications can be closed and multi task pan can be opened by touch gestures:
four or five fingers to pinch to the Home Screen; swipe up to reveal the multitasking bar; and swipe left or right between apps.
With these gestures replicating the primary tasks of home button, the requirement of a physical home button is potentially over.
Everybody knows Steve Jobs hates button!