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it is a list of Books Ive Read. If you go to My Account, Lists, it is one of your lists.
If you have books you have read on this list it will put a W next to it if it is on someones wish list.
You don't have to use it because it doesn't do anything with with other members, but you can then post the book by selecting it and using the post this book button (just be sure it is the right isbn, binding, etc).