A second "open with" feature that acts as an "edit with"

This would be functionally identical to "open with" but renamed as "edit with" and would allow users to select two different applications to be associated with a media type.

For example the user could have, for an audio file:
Open with > Windows Media Player (to preview)
Edit with > Adobe Audition (to edit)

This would save a lot of switching back and forth when wanting to alternately preview a media and edit it via different software.