Location: what's the point?

Have you created another location for work too?

I personally leave mine on automatic most of the time, unless there is a configuration that requires a big change. In almost all situations I have a wireless connection that uses DHCP to distribute IP addresses, so this just works. If I need to use a wired setup, I will create a location for just that one.

What are the differences between your work and home settings? I understand home is WiFi - do you connect via ethernet at work?

Ideally even in the above situation (as 00synner00 mentioned) you ought to be able to use the same location for both unless, for example, you use a proxy at work or use settings given to you by a systems administrator.

As the other commentators suggest, you can indeed leave it all on Automatic and OS X will switch things for you. This will work OK most of the time. There is always that odd time, and this is especially true if a particular network you use has any idiosyncracies.

I set mine up with three locations normally; and add/delete others depending on circumstances (a week in SF was one of those). I have Home, which allows me to connect immediately to my Airport wifi and also switch to the ethernet if I want; I also have two office settings as there are two routers there and both connect to a complex system that uses proxy settings and router passwords; and I also use an "Out & About" setting that is for when I am in town, for example using public networks. In that way, I do not need to play about with any of the specific settings for my home or office setups.

It is useful, but not necessary unless you think it might help.

Yup, leave it on Automatic.

Put the correct settings for your work bits into the ethernet setup, and your home wireless into the Airport bit and leave it all alone. Should work a treat 🙂

I would also put whichever service you use most (Airport or ethernet) at the top of the list of network configs in the Preferences pane. Shouldn't make any difference, but you never know.

That is going to work fine in most cases. As I write, in some cases (in my case) some of the networks I use are somewhat idiosyncratic (a couple approaching the idiotic) and so with everything entered:passwords, IP numbers (in one case), proxy information and all, switching removes all those delays, even selecting the right wifi router when there are several choices.