I just sent an email about unified inbox. In the same vein, another thing I miss is the "conversation" view of other mailers. In that, I see not just incoming emails in a thread, but also the replies that I sent out. That way a complete conversation makes sense, and I don't have to flip between inbox and sent mail. Once again, it can be a virtual index, in that the emails can (should) actually stay in their respective folders, but just show up in a view, and be tagged with the name of the folder in which they reside.
Puneet.