Update 5 May 2011: The discount has not changed.
Thanks to Stephen Holmes of Home Depot's Corporate Communication department, we have an official answer on the Home Depot Military Discount policy. In response to my post last week, he emailed me the following statement:
"We offer a 10 percent discount, up to a $500 maximum, to all active, reserve, retired or disabled veterans and their family members with a valid military ID. All other military veterans qualify for a 10 percent discount during Memorial Day, Veterans Day and Independence Day.
But I think it’s worth also noting that we support the military, military spouses and their families in many more ways that go beyond the discount. It’s a personal issue to us because we have so many of our own associates who have served over the years and about 1,700 who are currently serving on military leave of absence."
Thank you to Mr. Holmes for giving us a clear view of the rules. Mr. Holmes also encouraged me to send him any other questions, so please post them in the comments.
Hope this helps!