Personally I would find this immensely useful.
Reminds me of this request - Solve the library/non-library conundrum and all the complexities it creates for tagging, focus, playlists
I can see the use case for choosing the ‘best quality version of a recording’. But on the whole, admittedly there are always edge cases, it feels like that is a flag that would be better set at the album/version level, leaving the track level heart/flag for ‘favourite songs’.
Would be interesting to know how many people currently use it one way or the other, but I expect there is no reliably way to find that out.