Absolutely... Markers, tempo and pitch change abilities should be included, or you might as well use an iPod.

It's all part of the effort to 'dumb down' arrangers over the years. Once upon a time, these things were designed for PLAYERS. All the features were designed to make playing them easier. But now, it seems like the features are put in to make PRETENDING you are playing them easier.

Mind you, without at least transpose, how are you supposed to be able to sing with a karaoke backing if you can't change pitch? That's a basic feature from even the cheapest karaoke players... And just as easily achieved on a .wav file as an MP3 (usually higher quality, too).
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An arranger is just a tool. What matters is what you build with it..!