The prospect status field can be used in a variety of ways to track a prospect's progression to the cultivation cycle, as well as the prospect status within an organization's own prospect management protocols.  To be able to change the status for groups of prospects at one time would be very helpful.  For example, at our organization, we use this field to identify prospects that the prospect management team has recommended to a fundraiser so that it is clearly identified (and no one will mistakenly recommend the prospect to a different fundraiser); it would be helpful to change the status to (and from) Assignment Recommended for the groups of prospects that get pushed out to fundraisers regularly.