I think many poeple will enjoy (me included) If you can had coordonated system on the map grid of each island map. I know already have Waypoint and coordonate... I mean something more simple, more visual and more fast like this :

http://img98.imageshack.us/i/ifbl.gif/

With that you can say "I am in C5" without "Wait, I place a WAYPOINT..."

Thank's for watching.