This seems like a very big step towards usability. I haven't actually tested BeatBox, as I'm still running Maverick, but I think that and automatic artist sort would be excellent.
For example, if I were to put an album by, lets say, The Strokes. It would be very beneficial for both organization within BeatBox as well as with sync'ed devices (in the future) to classify The Strokes under the "S" artists, rather than in the "T" section of the library when displayed in alphabetical order.
Most commercial music players already have this feature, but I understand that this is polish and perhaps not of highest importance in BeatBox's current state of development. I just know that the whole elementary project is to create simple, clean, and usable applications. This feature could save a lot of headache.
I tried this, and the lost speed was not worth it.