I use it more as a way to shortcut sites. For example, if I want to Wikipedia "pi" instead of typing www.wikipedia.org, in the address bar, then typing in "pi" in the site's search bar, I enter it in Google and find the link. Firefox's awesome bar is gradually taking over as I can favorite things and "search" for them using that just by typing in a couple letters, but I still use Google for anything I haven't favorited.
I've been doing that for years on Opera. Just gotta right click a search bar, give it a few letters to ID it and off I go with 'w pi' to search wikipedia. I do not miss having to go through google first if I just use the search bar, or even going to wikipedia.org or wherever first.
I like Firefox's Keyword Search bookmarks. The Awesome Bar becomes a "web command line". Some example search bookmarks I've configured:
* "w pi" to search Wikipedia articles
* "d pi" to search Dictionary.com definitions
* "am pi" to search Amazon products
* "map pie" to search Google Maps locations
* "g pi" to search Google
I'm honestly surprised not every hacker does this. The vast majority of popular browsers supports keyword searching either out of the box or via a plugin.