I like the incremental searching that using control-r lets you do. That can come in really handy when I don't remember precisely what the command I want is.

I can start typing and then type more once I see some results to hone in more precisely to what I want, or even backspace over some of what I've typed and type some more without having to start all over again.

Also, using control-r instead of the arrow keys doesn't force me to move my wrists and lets me keep my fingers mostly on the home row. I try to use the arrow keys as little as possible.