"Smart Empty" - Using the Data panel of Empties for proxy panels

As empties are often used to control modifiers (such as the texture coordinates for displacement) and camera direction or focus point, I have recently found it frustrating that I have to switch between the empty and the object being affected by the empty.

So, my suggestion is that blender should allow certain parameters to be reproduced (proxied or duplicated?) in the control-panels of the empty, when it is being used to control something with a more complex parameter set.

Example 1: When using an empty to control the focus for the depth of field of a camera the Data panel in Properties for the empty would show the Cameras Depth of Field fold out (perhaps without the "Focus" section.

Example 2: When using an empty to control the texture coordinates of a Displacement modifier the Data panel in Properties for the empty would show the Strength and Midlevel sliders from the Displacement modifier.

This feature could then further be improved by implementing some kind of built in way to allow a child empties distance, scale or rotation, in relation to the first empty, to control sliders in associated with the first empty. This way experimentation of the parameter space when using procedural functionality in blender could be done more in the viewport. And combined with things like path-following animations I think complex animations often could be made more easily manipulated than when having to use the Graph Editor.