You're not limited to typing the names of Web sites and local disk folders into the Address Bar.

You can even type in the name of a document file - if its application can act as an OLE server (for example, if it's a .doc file associated with Microsoft Word), then it will be opened in a browser window with its creating application's menus and toolbars present.

You can then browse your way between the document, your local filing system and the Internet, all in a single browse window.

If you type the name of a document whose controlling application can't act as an OLE server into the Address Bar, then the application is launched in free-standing mode (i.e. not taking over the browser window).