The electric pump is great for getting water, but sometimes you want to get rid of a fluid...or at least get it out of the way of your building plans. I suggest a variant on the electric pump, designed specifically for draining pools of fluid.
This pump would:

• Work with all fluids capable of being piped (I don't know if the electric pump does this already, but it does seem to mostly be about acting as a water source).
• Extend a pipe downwards to collect fluids not immediately below it (I'm pretty sure that the electric pump does not do this already).
• Block fluids such as water from forming new source blocks temporarily (this is the big one, along with the point above, that separates this pump from the one already implemented- this pump is specifically for removing fluids from the world).

This could be implemented as an upgrade to the existing pump, but I feel that it would work best as it's own machine. Where the existing pump mostly collects water for use, this pump would be more like the digital miner(1): it's purpose is as much to remove fluids as to collect them (though it can be used to collect fluids such as oil and lava).
(1)Though much simpler- it would only remove fluids from the world. Filtering and height specification optional, though it should not teleport fluids.

Just tried using the pump fully upgraded, it doesn't work. Water regenerates faster than the pump could pump out. I guess this may have some use.

Keep in mind that the current pump no longer removes the source block in v9.

This new pump would only be needed for water. If you place one or more pumps on a nether lava pool, you can empty it out pretty quickly (much quicker than with a BC pump).

CJL48,
it is configurable if the pump removes the water source block or not. I configured it to remove the water block but no dice.

Okay, so the currently implemented pumps can pick up fluids other than water, and reach down to pick up fluids? I didn't realize that, makes this unnecessary.