It would be nice to have two extra Status choices (preferably Radio Boxes) on the Product Status screen in addition to the existing "On Special" (ie. The choices would become "New", "On Special" and perhaps "End of Line").

These status fields could be linked to small images (semi-transparent GIF's that say "Special" or "New" or "End of Line") that display in the Product (Browse) details in the Front End Shop.

You could also have the "New" status expire after a set time (maybe User definable in the Global configurations).