I agree... the more overviews, the more grouping comes in handy. I requested groups for Contacts/Friends in vBulletin over and over again... yes, the story becomes old... also this was never picked up.
Talking about overviews... grouping will also come in handy with the Alerts dropdown or big overview: this was requested before.
I understand but I couldn't even suggest what I did without this being implemented first. I'm saying if this was implemented, the functionality could extend beyond simply filtering out things that show up in the news feed.
Just doing what you suggested seems limited in scope to be worthwhile so expanding that to a wider view could prove its implementation worthwhile. I like your idea, I'm just expanding on your idea into something bigger.
I think we need to have SOMETHING along these lines, I haven't really dug into it that much, but the point is that the advantages of following are NOT intuitive and somewhat buried, at least by the default configuration.