Mixed feelings, version 2, too. The URL is such an important part of the website. It does deserve lots of screen space. Also, I tend to doubleclick just somewhere in the bar to start typing, without much aim. I'd say put the search engines into a compact dropdown, maybe with a default selected "Go to", at the rightmost part of the bar. Combine with reload and stop (make those bigger). Takes one click more to search (dropdown, engine). But leaves URL clearly visible and clickable. Use tab to iterate through dropdown elements for a shortcut.
So my favorite workflow would be: doubleclick url to select full line, type, tab, enter for google. Or just enter to go to URL.