John, the short answer is yes, that feature will be coming back very soon. I'll try to get Greg (our product manager) to offer more specific details here about its return.
When you guys overhauled download.com the Add to Watch List option was removed, forcing users to choose the download option and then cancel it if they already have the software and were just looking for e-mail notifications. About a month ago a couple people brought it up with lee but so far it hasn't made its reappearance. Could that be expected back in the near future?