There were gestures added to 4.3.1b that enabled you to navigate out of apps etc without the need of the home button. 5 finger pinches etc.
So people presumed that meant the home button was going.
4.3.2b doesn't have the gestures in.
It's a s**t idea for it to take the place of the home button. Part of why the iPhone/iPad work so well is ease of use. Give it to anyone they get on with it, can navigate around. Start having to explain 5 finger pinches and it loses it's star quality.
They might be an addition but they'll never be instead of. Rhys is talking out of his arse. The people that would know about this would be in the tens. Not the sort of people that are going to tell you about it over a beer! LOL Sneeks' mate had an early iPhone at one point, wouldn't even let him touch it, told him nothing at all.