Slug

Is the Slug metadata field new? I know I've wanted it for a long time and only just now noticed it on the Metadata page. Either way, it is not working as advertised. When I tested it on an old post where I had used the Link field to customize its slug, it just dropped the rest of the Link Format I had defined. Instead of domain.name/path/to/post/slug it loaded as domain.name/slug So it basically functioned the same as the Link field.