One of the most common uses of "LIST of" is when you need to create a dynamic collection of similar objects at run time. I use this extensively in my scripts as my AUT is web based and dynamic in nature. For e.g.
LIST of STRING lstLink
lstLink = BrowserChild.GetLinks()
This returns a complete list of HTMLlinks on a web page after which I can iterate over the list to check for a certain value and pick the links I want to navigate to.