So it is comforting to know that Apple do listen when enough people complain.
According to this article, 10.5.2 (due out in the next month most people suspect) has new Stack options to bring back the old folder-in-dock list view, and to display a folder icon instead of a Stack. Probably not the most visually interesting solution to the problem Apple gave us with Stacks, but at least we’re getting a more usable solution.
Nice to have some usability back in OS X. Now where is the option to turn off the transparency in the menu bar?