yFlicks 3.2 just came out. This is why you should care: supplemental library folders. Basically, you can stick videos in a supplemental library folder that’s stored on another volume. Then when the volume isn’t connected, the videos are hidden. Read more about it in the blog announcement.
Take that in the eye, iTunes. This is the feature that all the media organizing programs that I use have been missing out on. I’m kind of excited.