@Kiptrix. It's not horrible process. But it's not so easy as you've said:
Open map. Zoom map so the position of waypoint should be precise. Right click. Write some text. Manually enter color (this is weird). Click icon selector, move down and eventually scroll because your icon is at the bottom of list. Click ok. Ehm.... It's not so straightforward..
Finally you use only few of icon (namely: pickaxe, ladder, trader wagon, star, spiral) - no need to have another in the list. You use only few colors mainly because some color is very badly visible on the map (namely: red - for search, orange - special case for example transponder target, yellow - searched but repeatedly user e.g. trader, blue - the place is done/closed).
I usually want to place only these types of waypoints:
- opening of cave (ladder, red)
- ore to pick (pickaxe, red)
- trader (trader wagon, red)
- transponder (spiral, red)
I usually change color to blue as soon as I finish some place (e.g. ores, explored caves)
So few hotkeys for concrete waypoints would be perfect.