With the latest release of Adobe Analytics we have replaced the Admin Console calculated metric builder with a much more friendly one (that includes the friendly names of events).
With the latest release of Adobe Analytics metrics created in Ad Hoc are available in Reports and Analytics and visa versa, including metrics with segments applied.
With the latest release of Adobe Analytics we have added both a description field for calcualted metrics as well as an easily accessible metric preview that gives users quick access to the definition, name and description.
With the latest release of Adobe Analytics we have added totals for Calculated Metrics where it make sense and they are smart (e.g. not a simple sum of conversion rates) but they take the data from the whole site.