What is FireWare/IEEE1394

Can someone please explain to me what the H$LL is Fireware. From what I can tell its just used for data transfer??? But is it really necessary when you have USB???? Am I missing something here???
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More about what fireware ieee1394
  1. The IEEE 1394 interface is a serial bus interface standard for high-speed communications and isochronous real-time data transfer, frequently used by personal computers, as well as in digital audio, video, automotive, and aeronautics applications. Apple calls theirs Fire Wire, Sony calls it iLink & Texas Instruments calls it Lynx.

    USB and firewire are different interfaces. Hi-Speed USB 2.0 is a 480 Mbps interface and FireWire is a 400 Mbps interface.

    Take a look @ this - howstuffworks.com
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