We have this "hand" tool that most likely nobody uses, in place of what most other programs use - "Select". Why do all these programs have it if you can select stuff with a translate tool? Because translation arrows are constantly getting in the way: Try selecting the light here, i dare you. Selection tool not only allows for unobstructed selection, but also makes it SAFE to select stuff haphazardly in scene like most of us do, as you are protected from accidental movements/rotations. This is a defacto tool in all editors - 3ds max, maya, any, they all understand the importance of this. Its something that bothers me since unity 3.