Hey Nickel. I understand your frustration, but there's a lot more meta data to consider than that attributable to a tune. The basic functionality is the same as iTunes, don't you think? And it gives you the crazy power if you need it. If you need a hand with a query, please describe it in English and I'd be happy to try and translate it into a raw query for you.
I actually find the smart folders in iTunes limiting. I wanted a playlist containing multiple music genres but excluding tunes from a particular source. Can't be done with just AND and OR.
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