Just in case you are still confused.
Yes return can be used to make a custonm identifier but you are asking about its simlarity to halt.
If you use halt, everything on mirc stops until the next request.
on *:text:*:#:{
if ($nick == $me) halt
}
This will halt every matching text event from any further processing. For instance, if you had a text event in another file that should have been triggered, it wont be.
Logic states that Script 1 will trigger first and so on.
I believe the ^ prefix supercedes script file order.
So halt will stop everything. Return, however, will only stop the currently executing script it is in.
on *:text:*:#:{
if ($nick == $me) return
}
This will stop this script from continuing, however, other text events in other mirc files will still trigger.
Halts are usefull for halting raw event messages. Halt is usefull if you truly want mirc to completely halt any processing of other similar events.
Otherwise,
As a general rule, I use /return to halt a script, UNLESS of course I do want to halt all scripts from performing.
I hope this clears it up for you.
