Spotted by Google Operating System first, I then covered it yesterday at Search Engine Land - Google is testing displaying the site name as opposed to the site URL in the search results.
Here is a picture showing the site name in place of the URL:

Here is a picture of how one would typically see the site URL:

Google has been testing the placement display options of the destination/display URLs within the search results a lot this month. First by moving the URL above the snippet and now this.
Forum discussion at Sphinn.

Comments:
Rob Young
06/14/2011 01:08 pm
You mean Site Name instead of Site URL
Brandon Dudley
06/14/2011 01:18 pm
This will really makes Brand Name even more important in. It also seems like it will make it even more important that your homepage needs to be very easy to navigate.
Cfsolomon
06/14/2011 04:19 pm
I am not looming forward to this change. It will prevent the ability to capture components within the page or other pages within the site from the search results. You'll be forced to follow the link to determine the URL if there are many sites with the same title: I.e. Linkedin profiles for people with the same name.
Michael Darren
06/14/2011 05:17 pm
Sorry for the OT post, but how do you guys get your Disqus comments to be indexable? Is there some straightforward way, or is it a custom implementation using the API?
Barry Schwartz
06/14/2011 08:33 pm
Use the API to retrieve comments, store them in a DB and then spit them out in the html.
Robert Wenger
06/14/2011 09:48 pm
I don't like the idea - particularly because Google has a tendency to sometimes send me to PDFs. Seeing the url helps me avoid them.
Frases Romanticas
06/15/2011 07:33 am
Interesting Concept!! But what will be its advantage in terms of Increasing SERP?
Webstats Art
06/15/2011 08:05 am
This is so cool. It means that domainers and their families will go bankrupt overnight. Imagine what it is like to have that kind of power to destroy a business by changing a bit of code. Yeh! just change the code and a few hundred thousand students can't finish their education because their school fees are paid by the domaining industry . I doubt any of you people care about this anyway since you are all so self absorbed.
Heather Physioc
08/02/2011 08:03 pm
As a searcher (and SEO), I find it incredibly obnoxious. I agree with the PDF comment below - I don't always want to download a PDF to peruse for information. I also consider the URL a clue to a result's relevance to my query, and without that I have lost a signal that helps me determine whether I want to bother clicking on something or not.