Here is a 14 minute official walkthrough of HOME.
Note this video has not been seen before. This is NOT Phil Harrison presenting HOME, for the fellow running us through the walkthrough is a jolly man with a beard.
There are quite a few interesting comments made. HOME is not geographical; it is not possible to walk everywhere. You will mainly teleport, apart from central areas where you can walk through.
It is possible for there to be context sensitive animations for your avatar. For example, an adventure area could be set up, where you are provided with a skateboard on entrance. You will then have skate boarding moves in this area.
Winable items will not be purchasable and visa versa. If this was not the case, there would be problems of currency and if one could buy prizes, their importance would be reduced.
Developers will be able to run their game code within HOME, so they can present demos of their games within the HOME environment.
It is possible to visit foreign lobbies, such as Japan.