3 years later, and this is still a problem. It's so clear that the primary use case for itunes is selling music, and not managing a music library (or at best passively accepting whatever genres the content providers wish to push).
For all its defects, Windows Media Player, circa 2005 was a great content management system for managing music - you could drag (or shift-select) and drop anything to shift genres, albums, artists. (WMP ***** now) All iTunes allows you to do is add to playlists, everything else is the tedious Get Info dialog.
And I just want a text list, I hate having to look at thumbnails for everything. I don't know or care what the album cover looks like, but clearly the marketing weasels at the record labels made it a requirement that you have to look at the stupid cover art even though that makes it incredibly difficult to scan a list or sort.