> What's worse about it? Nothing.
In Safari 5, when you start a search in the search box that search text stays put no matter how many of the resulting links you visit. This means you can easily search for something, check out the results (going as deep as you want), and then easily refine the search by simply hitting your search-bar hotkey (cmd-K for me) and typing. You don't have to navigate all the way back to Google or start from scratch, or rely on saved search history.
There are a lot of people that really like combined search boxes, but there's enough that don't that it should have been retained as an option.