(Apologies if this comes across 'harsh' trying not to be but not sure how to word it another way)
The reason this hasn't been done is because a ton of media based front ends already exist that do similar things, and are partially automated (in the least) in the way that they do it. Meedio/Meedios is the one I use. XBMC is another. There's one on Linuz that I compltely forget the name of.
I can enter 100 movies into Meedios in about...an hour.
Now, biggest thing that's different would be the immediate showing of the preview and the wheel. But, for a media PC that's interfacing to your home theatre setup, and going to be used by many people, I find something more menu driven and simple is better.