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Nonsense. It has been the plan from the beginning to only offer the required amount of functionality. Adding items is not required, because you should never need it if applications are not broken.
Then what is the point of having such menu editor? I understand that the average user merely need to hide and move menu entries, but you should also think about the slightly above average user that might need these functionalities. At worst, he could enable an obscure entry in GConf.
Getting another menu editor is barely a solution. Having two programs that pratically do the same thing is bloat.