Вот что написано в справке:
Код:
As an alternative to class types, you can declare object types using the syntax
type objectTypeName = object (ancestorObjectType)
memberList
end;
where objectTypeName is any valid identifier, (ancestorObjectType) is optional, and memberList declares fields, methods, and properties. If (ancestorObjectType) is omitted, then the new type has no ancestor. Object types cannot have published members.
Since object types do not descend from TObject, they provide no built-in constructors, destructors, or other methods. You can create instances of an object type using the New procedure and destroy them with the Dispose procedure, or you can simply declare variables of an object type, just as you would with records.
Object types are supported for backward compatibility only. Their use is not recommended.
т.е. это было оставлено для обеспечеия совместимости, и не рекомендуется к использованию.