This isn't a bad idea, I think it could be usefull to use but a little hard to implement at the momment. I believe when you go to the "Info" on a track you're able to select the artist, track, bpm, album, key etc. and you will emidiately go to the function you selected and search of similar items. I'm not sure if you knew that but it might help temporarily.
I personally would like to be able to see the current position "white bar" in the waveform while using the "Search" mode. After loading a track in the "Search" mode, you must tab over to the "Info" mode in order to see the position of the track in the wave.
Those are my thoughts, lets hear what others think of you're feature idea. And in order to implement this, you should e-mail Pioneer at the right side of this page and pass along your thoughts for future updates.