Actually, not entirely true. NameMapping allows you to alias objects and such within your AUT based upon a set of properties and associated values. This allows you to use the asterisk (*) to wildcard certain property values and to use other properties than just the component name for the mapping (such as index, caption, etc).
For our Web application, this has become invaluable because, as DIV's and other such change on the application and hierarchies and the like change, name mapping allows us to be able to use a consistent alias for every component. Additionally, there's a feature called "Extended Find" that allows you to map an object but then, if it moves into a deeper child object or similar thing, the name mapping engine can still find it.