At the bottom of every post next to the "report this post" bit there is a "link".

What is it for and what does it do?

I tried pressing it on one of the posts but nothing happened (unless my PC is going to self distruct in 3 mins)

If you copy the url of that, it gives you a direct link to that post.

Joel

So if you want to refer to a particular post thats in the middle of a five-page thread, it gives you the direct URL.