An example of this is mailto:[email protected] this is still totally valid, but email addresses don't use the // notation for nodes.
I should note that both Safari and Firefox understand the URL 'http:news.ycombinator.com/item?id=796434' as well.
See: http://www.ietf.org/rfc/rfc1738.txt
In particular, section 3.1, 'The scheme specific data start with a double slash "//" to indicate that it complies with the common Internet scheme syntax.'. So it is used by URLs that require any of this information: "//<user>:<password>@<host>:<port>/<url-path>".