For my purposes, Nero 12 follows Nero 10 and 11's castration of useful services.
But, thanks to Paul and his team's response to my How To Make A Best-Of DVD Compilation Guide, they did give me a quick response, which was essentially "No, Nero doesn't do that anymore - we force conversion, not culling."
I'd spent more than a year digging thru 10 and 11 Platinums to try to understand their new menu's and vocab's, so their quick response is a wonderful relief from wasting more of my time. I do appreciate that, and give good-kudo's to them and their employer.
Our XP boxes with Nero 6 and 7 Ultra loaded will still be kept in good service so we can easily build Best-Of DVDs or segregate out any and all selected "Titles" with checkbox precision without losing chapters, audio or subtitle tracks, etc.