The Visited floater is really handy if you want to revisit that store you were at 3 days ago but can't remember the name of. It's equivalent to the History menu in a web browser. The Visited floater can be opened in 2 clicks, by clicking the Places icon (globe icon on the left edge) then clicking the Visited tab.

Meanwhile the down arrow next to the location bar shows an alphabetically sorted list of some recent locations, which is less useful than the Visited floater (IMO).

Proposal: When you click the down arrow of the navigation bar, show the contents of the visited floater, scaled to match the width of the address bar. Scrap the alphabetically sorted list that currently lives there.

Make sure typing a name into the address field correctly searches the history.