I love simple plugins and this looks like a great one! I can easily imagine using this for client sites in the future. Keeping a post status's purpose discrete is valuable in the long run, even if not apparent at first.

I was also quite happy to see that the plugin's new status worked out-of-the-box with my plugin Post Status Menu Items. I like it so much that I added explicit support for Archived Post Status (mostly just defining an icon) this morning!