Local Files & My Files
The local files section is a flat view of all the files currently being stored locally in your computer. It's a great way to view and keep track of any files without navigating through project folders. It's also easy to check out, delete, check in, etc any to all local files from this section.
The My Files section is also a flat view, but this section holds any files you currently have checked-out. This makes it easy to check-in and cancel check outs for selected files or for all checked out files at once.