Posted too early.
I had a hefy commute, so I used to be up and out of the house just after 6 if going to London, just after 7 if not. Then home either around 2030 or 1930 depending on where I had been working. My commute cost me a minimum of £3k per year.
When I worked at home, which was a regular thing, I could get up at 8, log in, shower, tea, breakfast etc then be at computer by 0830. Clock off about 1800, with a nice cooked lunch at the table with laptop.
Result? Same (if not more) hours worked, with no distractions from chatty colleagues etc, easier to concentrate, more sleep, less cost. Well, I still had my season tickets but you get the drift.
I guess some people would take the mick, neither I nor my colleagues would have done because we were well paid and took our jobs seriously. It was a good company to work for, but they expected their pound of flesh in return which was fine.
I could access everything from home due to network, was on equivalent of MSN for instant access, had office number re-routed to mobile etc so was just as accessible.