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When you use the catalogsearch widget its hard to tell if its working on anything or not. There's definitely waiting involved so in my opinion it should use the waitimage shared resource just like the Locate widget does.
post 1.99 release
updated version to 1.99
Changed target to 2.1.
Changed Target Milestone to FUTURE. (Enhancements may be moved from this target to specific "versioned" targets after product design review cycles.)