Here's a full upgrade to Drupal6.
Functionality should be the same, although internally it changed from using FAPI hooks to capture actions on the node admin page into using 'node operations' callbacks.
We have both 'assign to term' and 'remove term' for any nodes shown on the content overview page.
It doesn't give a heck of a lot of feedback, doesn't complain if the term was already there, just does it. Which is fine.
I also added thumbnails for image.module nodes to the by-node screen - because it was easy.