C'mon +Google Chrome
you're better than this! At least give us the option to customise it a little - it would be a win win situation:
People who don't know how to use the omnibox, more than likely won't know how to customise this, so it will stay there for them. Which is what YOU want.
People who DO know how to use the omnibox, which is the majority of Chrome users, will know how customise it, so they have the choice to have it the way they want - which is what WE want.
(If you're using Chrome, chances are you're using Google's services anyway which is why this "update" is redundant.)
That way, everyone is happy. Simple. :)