Looking back at my dyslexic typing - shocking.
Yeah it is the main feature of that Walk Search History plugin, but I use it *all* the time. The main usage is when I am looking something up in multiple libraries - after switching libraries I just bash Alt+Left arrow and my same search is repeated. I also use it as a poor man's equivalent for multiple search tabs which calibre does not support - so if I get distracted into searching for a different book or whatever I can just Alt+left back to my previous search when done. Plus when testing plugins I am forever restarting calibre and frequently wanting to get a particular search result back to test again.
It would be nice to go the whole hog and have forward/back mouse button support available as another option/alternative for it. I don't know how possible that is... I'm sure Kovid can tell me