Weird htaccess file

I am working on a client's site, and I spot this htaccess file.

# -FrontPage-

IndexIgnore .htaccess */.??* *~ *# */HEADER* */README* */_vti*

<Limit GET POST>
order deny,allow
deny from all
allow from all
</Limit>
<Limit POST PUT DELETE>
order deny,allow
deny from all
</Limit>
AuthName [cut]
AuthUserFile  /web/u354/www70620/www/_vti_pvt/service.pwd
AuthGroupFile /web/u354/www70620/www/_vti_pvt/service.grp  

Can someone explain what is going on?

So, in the first limit, they are allowing all post, but in the second limit they deny it?

And what is up with the Auth stuff at the bottom? I know it deals with basic web auth, but the site doesn't require a login to view it.