+1 I agree.
In addition to tags, I suggest the ability to save searches so that one can quickly pull up a list of sites that are filed (appropriately) in separate folders. For example, all my credit card sites are in the Financial folder. All my utilities (cable tv, internet, electricity, gas, water) are in the Utilities folder. My landlord's site is in the services folder. They're all bills I have to pay every month. Yes, every month I can search for #bill to get one list that includes all of them, but it's a manual method, and to set it up I had to click edit for each such site, add #bill to the Note field, click save. Multiple times. If we had tags, I could've just displayed every site (folders all expanded, no search at work), multiselected all those sites, and them applied the custom tag "bill" to all of them in one step. Perhaps I'd want to search for bills plus another criterion from time to time; if I could configure that search one time and then save it, I'd avoid having to manually configure the search each time.