Whats the difference between transform.localPosition and transform.position

transform.localPosition

transform.Position

Any difference? When I try it there seems to be no difference between the two.

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position    The position of the transform in world space. 
localPosition   Position of the transform relative to the parent transform.

http://unity3d.com/support/documentation/ScriptReference/Transform.html

I always use localPosition, because I use empty objects to sort out my maps. I would just use localPosition for a current objects position or localEulerAngles for current euler angles, or localRotation for current rotation in Quaternions.