The features are there. There's no GUI way to add
custom video nodes (wiki) (or just use
smart playlists (wiki), which is what custom video nodes are based on) to the home menu in Confluence (default skin), but Confluence-MOD is there for those who want the Confluence look but with advanced options like that (pretty easy and can be all done via the GUI). You can use
video library tags (wiki) to assist in populating those custom video nodes.
Advanced library filtering (wiki) will work in custom video nodes and smart playlists.
I would suggest disabling the normal "TV Shows" and "Movies" options on the main menu and replace those with custom nodes/smart playlists as well. That way you can have, say "Kids videos" and then have a custom "TV Shows" that is everything minus "Kids videos". The normal "TV show" and "Movie" entries basically become "view all" options, if you want to keep them. Another neat thing that can be done is that the "adult" TV Shows can be their own library tag, so that a show can show up in both "Kids videos" and the "TV Shows" for adults (hey, some kids shows are funny as heck). Or whatever situation it might be.
The only thing is that we still can't really mix TV shows and Movies in a single node. You can use file view, and save a specific folder as a favorite, which can then be added as a custom menu item to some skins. File view can be used to show metadata, basically giving you the same look as the library view, but with everything organized manually in a folder (thus allowing TV shows and movies to be side-by-side).
I also suspect that as skins update for Frodo that we'll see some additional neat options, taking advantage of the full features of custom nodes, library tags, and filtering.