Preface: I am a 14-year user of ArcMap and ArcInfo that recently "upgraded" to Arc10 (SP4) and am routinely finding myself frustrated doing what should be routine tasks. Largely, once I've invested the time in re-learning how to draw features, snapping, etc., I generally like what I see.
Problem: I think I like the new snapping toolbar, but Arc10 doesn't allow you to specify which layers to snap to without changing the editing options and selecting "use classic snapping".
Proposed Solution: add a "List by Snapping" option to the others already present at the top of the T.O.C. to allow toggling/activation by layer. Keep the feature type control (end, edge, vertex, etc) on the toolbar.