Gavin Andresen - 2013-01-03 21:21:28

theymos is correct; if all the inputs have a UINT_MAX sequence number then lockTime is ignored.

Quote
Are locked transactions supposed to be supported or not?

Yes, they're supported by the network.

Quote
- Can you easily introduce a locked transaction using the standard client? If not, how?

No, there is no easy way to create such a transaction using the reference code.

* Super-duper-bitcoin-ninjas like gmaxwell who edit raw transaction hex to set lock times / sequence numbers don't count.