Basically under Device>Lock Screen, I can choose Swipe, Signature, Pattern, PIN, Password, None. If I choose Pattern, PIN, or Password, and set Secured lock time to say 30 minutes. Now if I press the power button to turn off the display, I can turn the display back on with the power or home button and as long as it is done within 30 minutes, I will not be greeted with a Pattern, PIN, or Password. BUT I am not greeted with an unlock screen either! I am greeted with a slide to unlock! This is very useful since I don't have to worry about accidentally use of the touch screen and the phone will only be Password, Pin, or Pattern lock only after 30 minutes of inactivity.
If I try this with any other Android device, I am greeted with a totally unlock screen. Which mean apps can be accidentally launch while in my pant pocket. I thought it was really weird but smart to implement it this way on the AT&T note 3. You have the benefit of a secured lock screen, but only after the set time, and you still maintain the easy to use slide to unlock option that prevents accidental touch screen use.