Rewrite URLs for SEO - Is it worth it?

Is it worth using mod re-write for simple URLs?

[lbombardier]

I run a directory site that lists thousands of companies. The URLs are rather simple, but I've noticed that a number of my competitors have started mod re-writing these URLs and I'm wondering if anyone has any feedback on whether this makes a significant difference for SEO. (Semantic usability aside.)

Current URL: example.com/results.php?companyID=34

Proposed re-write: example.com/industryKeyword/companyName

Thoughts?

[edited by: tedster at 6:52 pm (utc) on Aug. 13, 2007]
[edit reason] switch to example.com - it can never be owned [/edit]

[tedster]

It does seem to make a difference in SEO - how much of a difference is the question. If you're in a niche where every edge you can get is important, it's worthwhile. Note - don't concatenate the keywords in the url, but separate them with dashes (not underscores or capitalization).

example.com/industry-keyword/company-name