What would be even better would be the ability to turn individual lists within the collection on or off, unlike the current "one or all" situation.
BC-Mac has "List Folders" which effectively allow you to group Lists so you can Show/No Show a logical grouping of data if you want. I expect that BC-Win will get Folders in v3.3 (at least I hope it does). If BC-Win get's Smart Lists even better.
This may in some ways be related to having multiple databases, but is probably a more general approach than having just "My collection1", "My Collection 2" and soforth. I would suggest named databases that can be located anywhere on a computer or on a network. What I need is actually a way of accessing the same BC database from several computers simultanously on Microsoft Sharepoint Workspace (Groove) in Search and Rescue situations. We currently do that with Mapsource (.gdb-files). It is not a true multiuser situation, but Sharepoint Workspace has a rather crude way of handling that which works OK. I think that the possibility of "Opening" a specific named BC database would enable the same functionality in BC, so I am looking forward to "Named databases" in BC
List folders are a way to have multi-level lists. The Mac version of BaseCamp has had this for a while.
List folders can only contain lists, not actual data.
I attached a preview image from 3.3.
That should make managing lists and data a bit easier. This doesn't address the 'Multiple My Collection' request. All data will still reside in My Collection, the list folders just help with categorization.