When I first started using Win 7 I also missed the full path in the Address bar. Now that I've been using Win 7 for awhile, I've come to really like the bread crumbs that are shown.

What I like about is that you can click on any segment to see what else is available under it, not just what is shown. I know you can do the same by expanding folders in the left pane but I find this very useful.

folder addresses?-breadcrumbs.jpg