I've always thought of that! and it really IS a BIG need in iTunes 9!
it would obviously ease our experience in organizing apps on the iphone...
But, I have a few more ideas... let me know what u guyz think...
1. Being able to see Apps in itunes organized by Developper (just as we see songs by artist). or even by category, (like by genre). and even by rating...
2. have filters/playlists for Apps... what i mean is that Apple creates a way so that the apps organize themselves as i want them to.
for example: 'Always have Apps organized by name' (so, apps starting w the letter A will start on page 2, then 3, etc....)
or 'always have apps organized by rating' (meaning that all 4+ apps will be at the beginning and all 17+ will be all the way to the 11th page....)
or 'organize apps by category' (and u organize a list in itunes saying 'i want all games put in first then all productivity then all social networking)........
and after u've set one of those filters, (lets take the alphabetical one) everytime u add an app (RemovEm for example) it'll squish itself between Remote and Sims3... so that u'll always have them organized alphabetically...
3. on the iphone itself, when u press an icon for a couple of seconds and they all start to 'vibrate'... it'de be nice to actually select a few icons (while they're dancing) to move them from one page to another...
for example, i press on the Stocks icon for 2 sec. and all the 1st page icons start to dance, ill press again on Stocks (its selected, and its starts glowing and dancing), and press on Contacts, Weather, Mail & Voice Memos (so all those 5 apps will start dacing and glowing) and then i'll drag any of those 5 to move it to another page, and the other 4 will follow...

... and throw them to the last page for example...
4. and lastly, now that u can arrange icons on iphone and itunes, u'll have the option on the iphone's summary page to go with the 'itunes-arrangement' or the 'iphone-arrangement' or everytime u sync, it'll tell u 'the icons' reordering has been changed would u like to review before continuing?'
That's about it... If I were a good Photoshopper i would've done quite a few good mock-ups... because i havent heard any of these ideas before and they could help a LOT in the way we organize Apps!