Yes - I am aware of the availability of Wait For Exists and that is what we are using now.  However, I would submit the following arguments in favor of the requested feature:

1) It would be much more convenient to be able to directly record a Verify Exists/ExistsNot.  We currently need 2 steps to record a Verify Exists, 3 steps to record a Verify Not Exists, 3 steps to record a conditional statement based on Verify Exists and 4 steps to record a conditional statement based on Verify Not Exists (see my post in http://www.telerik.com/automated-testing-tools/community/forums/test-studio-express/general-discussions/logical-loop-until-redirect.aspx).

2) You referred to the need for balanced options.  The Quick Tasks menu currently has other sets of Wait/Verify (for example, Wait/Verify for Visible/Not Visible).  Wait for Exists/ExistsNot seems to be the odd ones out in that they do not have corresponding Verify commands.  Adding them would, I submit, be consistent with current design and make the menu truly balanced.

3) I agree you don't want to make this menu grow too large as it would become unwieldy.  But the solution for that might be to review the current list (perhaps with input from your customers) to see if there are any commands that you could move out (and provide an alternate way to record them) to make way for the above commands.  Personally, I can tell you that there are several items in that list that we have never or rarely used - and there were a few items we wished were there (Verify Exists/Not Exists are among the latter).

4) Grouping like commands on the list (like they are done currently) would make it easier to find the commands.

Hope that helps.  

Shashi

Note to Dev:  If/when you implement this, please make sure that all the functionality that is available today with other types of Verify statements are also available for these new Verify statements (for example, ability to convert to IF(Verify ) and While (Verify), ability to convert to Wait, etc.)