We were excited to read about this new class and method in the Summer 11 releas.  However, it doesn't look like this method behaves as it should. 

Documentation states:

Returns the URL of the Salesforce instance.
For example, https://na1.salesforce.com.

If I execute the following line from the system log....

String baseUrl = System.URL.getSalesforceBaseUrl().toExternalForm();

System.debug('baseUrl =' + baseUrl);

This produces this output...

baseUrl = https://na8.salesforce.com/apexdebug/SystemLog.apexp

which is incorrect because it includes 'apexdebug/SystemLog.apexp'.

Even worse, if I run the same code from a controller tied to a visual force page, I get...

baseUrl=https://c.na8.visual.force.com/services/Soap/class/CreditPersonsWS

Is this a bug or am I misunderstanding what the purpose of this method is?

Thanks