Given an ObjectID such as: ("4fce7c96b29a7b141c000001"), I'm referring to the '4f...' when I say '[object] value'.

From the freenode #mongodb channel:

dstorrs : are all ObjectIDs with the same value considered == ? And are they considered
=== ?

[15:13] < kchodoro_> dstorrs: looks like they're not even ==
[15:13] < kchodoro_> which seems silly, since the db matches them
[15:13] < kchodoro_> that would probably be considered a bug in the shell