what i hate about this winamp is the inability to edit id3v2 tags while the song is playing. i'd rather it hiccup than me having to stop it completely.

Funny. The version of WinAmp that I'm running does precisely that: It hiccups the current song to add the V2 tag. It allows me to add the V2 tag while the song is playing, and hiccups just fine. Of course, I'm running an older version... are you referring to the new version 3 being discussed in this thread?