I tend to google a lot and click through a lot of links in one window. If the URL window is active and you hit the delete button, it will bring you back to the last link, this is sort of a last link snapback. I was used to hitting the back button with the mouse, but now i can just Delete away. Please note that Command-[ does this, too, but this is yet another way to move around Safari quickly.
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robg adds: I thought this had been documented here before, but I can only find a passing mention of it in the comments. The shortcut is documented in Safari, but only if you've
enabled the debug menu; you can then see it (and others) on the Keyboard and Mouse Shortcuts page ... or just
click this link to view the page (assuming you have Safari installed in the default location).]