I would like to request the following enhancement for discontinued products.
A feature similar to the "Limited Edition" one, but for discontinued products. In the store admin settings for a particular product, there would be an on/off slider indicating that that particular product has been discontinued. For instance, similar to how you can indicate that a product is a limited edition "Mark as limited edition on store?" there would be an option "Mark as discontinued on store?"
On the Web site for customers, similar to how it says "LIMITED EDITION" on a product listing, it would say "DISCONTINUED - LIMITED SUPPLY"