For the first time in CS4, Color Range tool is capable of producing really good, subtle masks.
Heres some small usability improvements I can see.
• When the dialog is open please add shortcut key combinations to toggle the different "selection previews" so that Quick Mask and Grayscale previews can be easily toggled. The drop down menu is clunky. A suggestion may be Option along with the Q, G, B, and W keys.
• I'm not keen on having my layer masks always altered by going into Color Range. A preference for "create selection" or "modify existing mask" should be provided somewhere - I realise that its alterable by selecting a non-masked layer before going in, but its not very intuitive the way it is.
Color Range is a key tool in my opinion.
It should really get an overhaul.
First it should have all the new abilities you demoed for CS5 Masking:
Secondly, Could you implement something similar to U-Points?
Scrap and start over was my proposition 6 years ago. It's still a child's toy for marketing to bobble.