Better way to Manage Cat’s in backend

Hi

Is there a better way to display the Categories in the backend, rather than just a drop down list?

We have a lot of categories and having the current setup is very confusing.

Better way is to have the list pretty much like the frontend eg

Current System(Drop Down(Products NOT group together as they have different names))
{Product1}{Main Category}{Sub Category}{Sub2 Category}{So On}
{Product2}{Main Category}{Sub Category}{Sub2 Category}{So On}
{Product3}{Main Category}{Sub Category}{Sub2 Category}{So On}}

Better way (Static List 10 Lines)
{Main Category)
           {Sub Category}
                   {Sub2 Category}
                          {Product1}
                          {Product2}
                          {Product3}
{So On}

Has anybody done this mod or has PC mentioned anything about this before??

Thanks

Rob