Much of the time, most of the location bar area is wasted space. It would be nice free some of that space up for viewing files by merging the location bar with the toolbar.

There are at least two approaches that could accomplish this.

First approach:

1) Add a menu option and keyboard shortcut to show/hide the location bar
2) Add the location bar as an item in the configure-toolbars action list

Second approach:

1) Add a menu option and keyboard shortcut and configure-toolbars action that moves the location bar between its own bar and the end of the toolbar

In the attached file, the space marked orange is wasted, the yellow space is available, and the red is space that I wish were available (separate report).

Reproducible: Always

Steps to Reproduce:
1. navigate to a folder not too far from your home folder

Actual Results:  
Most of the location bar is just blank window space, yet it consumes valuable vertical space.