Well..actually...Baking is really Mayas way of converting all the curved animation to keyframes. Useful for Ik handles...use them to get the anim the way you wajt...then bake..and it converts all the ik handle movement to keyframes for every join (or whatever you selected)..this way you can delete ikhandles and not have them cause problems later on...this is VERY useful for creating cyclic animation.
Sometimes a cigar is just a cigar
-Freud
Sometimes a cigar is just a cigar
-Freud