Separate Libraries for Tape Collections

It would be nice to have the ability to have separate library of tapes similar to the Apple's iPhoto allows the creation of multiple libraries. This would allow separate collections of tapes for different subjects.

Personally, I would like to have a library for a private audio journal (password protected), and a separate library for other subjects.

I have found that I can create separate folders for different subjects, but having to go into the preferences is a bit cumbersome. It would be much easier to have a button or drop-down menu from which to choose a different library or folder.