Although you can't command+C copy from the "Address" line in IE 5.1 (we all hope it's a bug, not a feature!), you can drag the little '@' symbol to a text window and the url will paste where you drop it at. This also works in text fields on pages, which also don't like to be copied in IE 5.1 - just highlight and drag the text where you want it to go.
Some will say that the best workaround for this bug is OmniWeb 4.0 ;-).
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