Is there any particular reason why it doesn't behave similarly to "Adjust Entire Tempo Envelope"?
Basically,
1. "Adjust Entire Tempo Envelope" with -16% gives exactly the same speed everywhere as play rate slider to 0.82 with preserve pitch does
2. "Apply current play rate to BPM" does NOT give the same speed, it only affects the non-tempo markered parts (unless the actual play rate slider itself which affects everything), which for my songs is usually nothing to very tiny parts
For an Apply action found with right-clicking the play rate slider thing, I would expect it to apply what I hear, which is not what it currently does. (unlike "Adjust Entire Tempo Envelope")
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