The waveform could be placed in the middle of the screen - between (genre, artist, albums) and attributes of the songs
Display the waveform and can not work with it has no value (just serve to occupy space) - there must be work tools - there would be good for at least the following tools:
Mute (selected part)
Insert vst aplications
Functions available in: Edit- audio
And then it would open a new window occupying the entire screen and showing the waveform with the tools.
If it was just to see the waveform: see- waveform