Now working from home I make more progress per day then I did on a weekly basis there.
However, I do think some intangibles are lost. They're hard, maybe impossible, to quantify. Instead, I'll just link to a post from PG that's a transcription of a speech by Richard Hamming. http://www.paulgraham.com/hamming.html And to save you a click, this is the paragraph that stuck with me:
"Another trait, it took me a while to notice. I noticed the following facts about people who work with the door open or the door closed. I notice that if you have the door to your office closed, you get more work done today and tomorrow, and you are more productive than most. But 10 years later somehow you don't know quite know what problems are worth working on; all the hard work you do is sort of tangential in importance. He who works with the door open gets all kinds of interruptions, but he also occasionally gets clues as to what the world is and what might be important."
Obviously there are ways to mitigate that, e.g., involvement in the developer community or establishing habits to replace "water cooler" chatter, but they take deliberate effort.
We had all the funny things for the group integration all the time. All the things except for thinking.
Yes, I was sitting all the time with my headphones, shouting maximally to my ears. Until one of those people making noise told me that it is not team friendly to have so loud phones, as he hears the music, and cannot concentrate.
Of course the management had their separate offices, with walls, and doors. They didn't see any problem.
For the last 6 years I've been working remotely from home. Well, what a change. In 4 hours I could do more than for a week in the open space.