Do searchers really use the URL?
In short – yes. Microsoft stated that users tend to URLs more than snippets when viewing results. They asked the participants whether they looked at the URL to help decide if the page will be useful and the same for the snippet. URLs came out ahead.
The report stated “We were particularly surprised to see the overwhelming endorsement of the URL because this is often characterized as a “power-user” feature that is used by only a small percentage of users.”
The outcome of the changes Google is testing seems to depend on the type of query being made. Presuming a roll out of the changes described here, evidence points to Google taking a hit on the performance of informational queries in order to improve navigational and transactional performance.