Item's action would be to display the tool's tabbed parameter window populated as it was when you clicked Start.
Advantages (for Registry Finder, for example):
1. If "find" results are not quite what you expected, you can review exactly what you told Registry Finder to do, make changes, and resubmit.
2. When "find" results are what you want, you can save the parameters as a proven preference. I think it's called incremental improvement.
(I recently noticed that the Interface tab in 2006 has the choice: "Automatically close the tool windows after the results are shown" (yes or no). But this feature request still stands, because it would make that behavior a per tool option
Note: If the feature request here
Tullik