How about being able to ignore and then discard all people who have made <5 second visits. These hits tell me about people who aren't interested in my web site, and the fill up valueable space in my history.
Hits like that mean that only one page was visited. In fact the visit length gets calculated at 0 since it cannot figure out anything else - a second tracked page must be visited on the web site in order to establish some measure of the visit length, as the time stamp difference between the entry moment to one page and the entry moment to another page. It is shown as 5 seconds so people don't freak out when they see 0 seconds.
I could see maybe including that as an option on some of the reports, but I sure wouldn't want it as a default condition anywhere and wouldn't even want those hits removed from the log.
I find reports of those drive-by visits to be very helpful because they show me a few important things:
Does a page on my site show up in search engine reports (SERPs) in a way that is likely to be misleading? If that happens too often, I'll change the page in some way to make it more likely to attract visitors who are interested in the site and less likely to attract folks looking for something else.
Are visitors having some kind of problem navigating through my site? Are they, perhaps, landing on the "wrong" page when they enter a particular search? If so, I would de-optimize the page they were landing on for that set of keywords and optimize the page where I think they should be landing. Should I add something else to a page to try to guide a visitor who is looking for something the site offers to the right page?