setting an object's alpha is useful for fading things out (like particles), GUIs etc.
"not just "Set alpha" cos that sounds like you are setting the "world" alpha setting"
there's no such thing as a world alpha setting

you can't even get it confused with anything.
"Maybe it doesn't just set the diffuse component of a vertex"
i always thought it set the alpha component in the diffuse color. that's how i do it anyway. i don't know why they'd do something as complicated as setting the alpha of each vertex or applying an offset in the alpha channel of the texture
stop looking at me!
