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1.
1. When a Mac (or Linux) user boots his/her computer in verbose boot mode. Like iDevice verbosity, except a bit less-filled with crap on the screen, and more juicy info. Mac users, hold down Command (/Apple) + V, Linux users, remove the -splash flag from your kernel boot string.(through the bootloader)

2. When after you've jailbroken (See jailbreaking your iDevice you use redsn0w to set it to verbose boot, so you can watch your iDevice load all it's settings and fuctions while it loads. Or, for debugging if something goes wrong and it won't boot. Highly useful.

Quite amusing, or even scary at times for friends.
Person 1: *walks into room and sees Person 2's Mac verbose booting*
Person 1: Whoah wtf omg what happened to your computer!?
Person 2: It's a verbose boot.

-- Example #2 --

Apple Customer *has device jailbroken*
Apple Store Rep: ..Ok, so what's wrong with it?
Apple Customer: It won't boot
Apple Rep: Well then let me take a look at it. *Presses power button and screen is filled with verbose text*
Apple Rep *gives the customer a weird expression* o_O
by The Macbroker August 03, 2011