This entry will overview the different Display properties in the Object panel. Many of these are best understood through experimentation, but some are easier to understand with description.
The first property is the Type. This allows your object to have a different viewing mode than the rest of the scene. In the image below, the scene is in Solid view, but the object on the left is set to Type: Wire.
One practical application for this would be when remodeling using another model as a reference.
The next two are the Name and Axis. These two features just display visual markers for the name of the object and the coordinate reference. These icons are displayed at the center of the object. In the image below i moved the mesh to the left of the object center to make it easier to see.
The Wire field ensure that the wireframe of the object is always visible regardless of viewing mode or editing mode.
The Object Color in previous Blender versions allowed you to specify a color of the object in viewport that was independent of the render color. However, this doesn't seem to be the case anymore, but that the color specified in the Display property can only be viewed if the Object Color box is checked in the Options section of the Material panel.
Note that this color is not an override or a toggle, but will blend with whatever the actual material color is.
Next for the Bounds drop box, I have yet to determine it's function or value, so I have no comment to make about it, except that it is not related to the bounding type that is applied with collision detection.
The Texture Space toggles the visibility of the the texture space. The texture space of an object is tied to its texture coordinates. So hence, if you were to scale up [SHIFT+T][S] the texture space (as shown below), this would in effect scale the image on each face. This may be handy at times for simple texture adjustments, but I haven't observed its effect show in real-time in the viewport, so it would be difficult to gauge changes effectively.
When manipulating the texture space, this check box is automatically checked.
The X-Ray box works similar to how X-Ray applies to bones in armatures. If X-Ray is enabled, that mesh object will always be "in front" of other objects in the scene. In the image below the block and monkey are the same relative to each other, but the monkey on the left has X-Ray enabled.
The Transparency checkbox simply allows transparency to be visible in the viewport if the objects material has a transparency component enabled. The image below shows the transparency visible in Solid view mode.
Finally, the Draw All Edges field simply allows you to view all the edges of an object that would normally be hidden by Blender for certain shapes. In the image below, the middle cuts (edges) would normally be optimized out and you'd only see the outer edges shown in wireframe mode. But with this box checked you can see all of them.
The following link explains this in further detail: Katsbits