The renovation tool, while being a good idea, doesn't sufficiently fill the bill;
I use layers to control my views, (e) walls, (n) walls, Walls to be changed, Walls to be removed,
and
Layer sets to control what is seen in my views (e) elevations, (n) elevations etc.
Have a lot of work under my belt using layers and can create any view by controlling the layer/layer set combination.
The renovation tool and it's settings mean you have to set every single tool in Archicad, from the text tool, line tool, library parts etc, etc ad nauseum and I can get there by my ability with layers/layer sets.