I don’t know about anyone else but I typically rock a lot of tabs… I like to multi-task.  On my PC I use Control T to make a new tab, this also works on the Mac with command T.  However the PC trick of hitting F6 to highlight the URL does not work on a Mac. On the Mac use command L to highlight the URL.

Hint: If the URL or text is highlighted you do NOT have to push the delete button, you can just start typing and the text will be replaced.