I was just trying to model a table and I realized what I REALLY want: a router tool. A tool that would work like an actual router. You could draw any profile you want and VW would be able to subtract that shape from the edge of the object. You can essentially do this now (with a ton more steps) with an extrude-along-path, and add solids, bla, bla, bla, but I think this tool would be a time-saver and allow you to "router" the edges of more complex shapes.
P.S. I agree - it would be great if the Fillet Edge tool worked as it is!