Same here, that is the first thing I wanted to do. I ran into this problem just last week with WP 2.6. I manually recategorized 32 posts, so I was excited to try the bulk edit feature in 2.7. The bulk action editor is a welcome addition, and I imagine it will see further refinement in future releases, but I was bummed about the inability to recategorize with this tool.
Otherwise, I think the 2.7 UI is really quite sexy (as far as software goes) and the removal of additional clicks to get common tasks done is a nice improvement.
