Jon Udell makes some good points about human readable URLs. I personally like simple URLs, but I don’t feel so strongly about them as most. I think they work pretty well within websites that are managed by a single user — but tend to fall apart in group contexts.
My primary example of this is network fileshares, where people do have the power to name and organize things as they want. You can never get a set of people using the same judgement calls about what the appropriate folder and file names — and thus, you always end up going back to your OS’s search tools to find anything.