Most reviews don't go into much detail on it because for most consumers, it is a "gimmick" to them. For most users, it is a convenient way to securely access their computer.
Fingerprint readers come in two flavors to my knowledge: those associated with a hardware platform (aka TPM - Trusted Computing Platform I believe) and those that run solely through software.
It is a fair assumption that consumer-line notebooks with fingerprint readers run through software only. These check your fingerprint against information stored in the operating system and can only be configured to password protect your Windows logon.
Business line notebooks in general store fingerprint profiles in the TPM module, allowing you to associate fingerprint protection with power-on and hard drive encryption. If the hard drive is removed or formatted, your fingerprint still prevents the system from being used. They would have to switch out the mainboard, if even that would work.
I can't speak to other companies' fingerprint readers, but I know for a fact that Thinkpad (not Lenovo 3000 series) fingerprint readers' work off of the capacitance in your finger - i.e. your finger has to be alive for it to work. So someone can't cut your finger off to get access to your notebook. Comforting, isn't it?