This can be really useful even if you have the status bar enabled for when a web page uses Javascript to override the status bar text.
[Editor's note: This works most of the time, unless the URL is quite long, in which case you'll just get "http://www..." or similar. In those cases, just drag it to BBEdit or TextEdit and you'll get the full URL pasted in. One annoying "feature" of dragging links Safari is that if you drag a URL into iChat, you'll paste the title of the URL instead of the actual URL. If you're just trying to give someone a URL without their having to visit the site, this can be somewhat annoying. If you want the actual URL, you'll need to use TextEdit to first paste and then copy it before dropping the URL on iChat.]

