Due to my inability to code this, here is a pseudo layout of the options available on the new tab, and what they do.

General format of the dialog presented is

General Function: <Drop Down List>
 -- 1. Second Life Default (Marked below by "*" marks)
 -- 2. Activate All (Marked below by "&")
 -- 3. Custom (Also changes to this if you manually change any options directly, similar to InstallShield)

Object<Label> - Actions<DropDownList> - ?<Button>

Objects & Actions are as follows:
Animation -
 -- 1. *Display Play Box - Play Local or In World, as SL does now)
 -- 2. &Play In World - Plays Animation directly in World
 -- 3. Display Properties - Displays Object Properties

Calling Card -
 -- 1. *Display Avatar Profile
 -- 2 Open IM window to Avatar
 -- 3. Display Properties

Clothing -
 -- 1. *Wear Clothing
 -- 2. Display Properties

Gesture -
 -- 1. *Display Edit Box
 -- 2. (De)Activate Gesture
 -- 3. &Play Gesture

Landmarks -
 -- 1. *Display Usage Box - Teleport or show on map.
 -- 2. &Instant Teleport
 -- 3. Display Properties

Notecards -
 -- 1. *&Open Notecard for Editing
 -- 2. Display Properties

Objects -
 -- 1. &Smart-Use- (Not yet an option, see below)
 -- 2. Attach Object
 -- 3. Rez Object
 -- 4. *Properties

Scripts -
 -- 1. *&Open Script for Editing

Sounds -
 -- 1. Display Play Box (Similar to Animation, play local/play in world)
 -- 2. *&Play In World
 -- 3. Display Properties

Textures -
 -- 1. *&Display Texture
 -- 2. Display Properties

Snapshots
 -- 1. *&Display Texture
 -- 2. Display Properties

Smart-Use is a concept that I first mentioned in the parent ticket of this entry. The general concept is this: If an object has a preset attach point (it has been worn before) then re-attach it. If it doesn't have an attach point, rez it.