It's seems that the best way to implement this would be to add a preset playlist under the playlist menu called "current" or something. Since we can assume(hope?) that the automaic playlists for artist/genre/album will be implemented soon, this should be an area that'll be getting an update anyways.
Under the "current" playlist different functions(move up/down, skip to, delete, ?) could show up when you hold the bottom button instead of insert/append/replace.
Matthew
PS: I'm new here, have had my empeg for a month and love it of course.