The List functionality on Excel 2003 includes AutoFilter. However, the
List functionality gives you more. Every time you add/delete a record,
the formulas which refer to (parts of) the list are updated
automatically. For example:
Let A1:E20 house a list with headers/field names in A1:E1.
Let G2 house:
=SUMIF($B$2:$B$20,"Y",$D$2:$D$20)
After you add a new record in the row with the asterix, the formula in
G2 will immediately update (without any manual interference) to:
=SUMIF($B$2:$B$21,"Y",$D$2:$D$21)
Obviously, this feature makes the need for the resource-demanding
dynamic named ranges (defined with OFFSET, INDIRECT, or INDEX) obselete
in most situations. Also: suppose you have constructed a pivot table
from the list area, a fresh of the pivot table will always include the
new records.
Assume that you have a formula in column E of the list, something like:
=A2&"#"&C2
Whenever you add a new record, this formula will be copied down
automatically. The manual formula copying or formula copying with code
in VBA, all things being equal, are no longer needed.
If MS could manage to include a fast sort routine for such lists, which
can be set at list creation time, we would in most cases have fast
lookup formulas with match-type set to 1 (=TRUE), a non-negligible gain
in efficiency.
If I might venture an appraisal, MS has done a good job with the List
functionality.