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It would be useful to quickly be able to license recent downloads that are downloaded as unwatermarked "Try It" songs, as I often download multiple songs while ultimately settling on 1-2 for a video. I like the way search currently works as it does allow users to see the variety and find new songs, but it does often fail to give the searched song as the top result if a song and artist is given, so I personally don't think search needs to change to accomplish the goal here.
I've already twice accidentally forgot to license music and had my videos claimed and it took me longer than I'd like to correct, so this would solve this issue as well.
I could see it existing as a third tab under My Music.