Maya has a great feature that lets you enter a mode where you can click and drag the pivot point to wherever you want. Blender as far as I can tell only lets you move it to 2D cursor or current selection, which is usually requires several mouse and menu clicks as well as switching between object and edit mode.
This is very inconvenient. Is there any way to simply click and drag the pivot point and maybe snap it to things the way you can when you've moving a vertex?