I would say my biggest criticism of it is it's rather intolerant of human error. A single mistyped character, and you are not going to the website you intend. I think that's the reason searching for something on Google can actually be a better experience than trying to figure out the URL directly.
To your advertisement point, there was a long history of companies including the http:// and www in their ads. There's always this of course too: http://i.imgur.com/cfTxpd2.jpg