Agreed, I'm right near spawn but still feel far enough away that I can do whatever I want.
Also, someone was telling me about the wonders of the enderchest spell last night, and it is fucking awesome for mitigating the lack of /spawn and /back. Just carry some redstone dust around with you, and if you're way the fuck away and unsure you'll make it back, just cast that and you can store all your shit safely in case you die. People assured me that we all have our own individual ender chest access, so someone can't steal your shit either. If someone could confirm that, it would make it even more awesome, particularly since you can also make your own ender chests I assume and access them from your home.