Oh, well... I already have an ID3 tag editing tool as I've descried in the previous link. Like I've said, I use
Mp3tag to edit all of my music and it works in the same exact way as the program you've descried.
My idea above was to somewhat integrate that tool with VLC since it'll soon have the ability to edit and save tags.
It works very well but I think that VLC could function similarly to it with a few tweaks, for instance the ability to select items from the playlist and then add tags such as Artist(s), Album, Year and Genre, then things like title and track number could be applied manually or through the internet (freedb).
I set up the screenshot the way it is so that the playlist is viewable and the already existing "Media information" tab is embedded into the interface itself. It just seems easier to edit this way.
So look closely at the screenshot of Mp3tag and the screenshot of the mock-up VLC tag editing tool and tell me if it seems practical to have it this way.
Mp3tag:
VLC tag editor:
It's probably best just to try the program so that you'll see exactly what can improve the current tag tool for VLC.
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WOW! already over 200 replies? Let's keep this thread going. I'm not out of ideas yet, but feel free to post your own here.