Yes, I use that a lot but something I miss from Windows Explorer is that i can actually copy the path. The widespread suggestion is that you can drag and drop the icon in the title but I prefer the other thing.
You can setup an OSX service to let you do it[1]. Doesn't really work for network shares through.
[1] see 4 from http://www.cnet.com/how-to/how-to-copy-a-file-path-in-os-x/