The main backward of ArcGIS compare to its predecessor ArcView 3.x is difficulties of ArcMap application in drafting. Yes, ArcGIS is much powerful in analysis. However, some people are mostly using GIS applications (insluding ArcGIS) for drafting – a map creation.
I have been finding an extension which can help me in drafting (digitization) in ArcGIS 9.x. Sometimes, I prefer to back using ArcView for drafting and then back to ArcGIS for analysis and layouting.
Drafting Tools may be the answer to patch the weakness of ArcGIS on this. Download the extensions, install, and try this.
Screen shots:

Drafting Tools for ArcGIS 9.3 is using in ArcMap
Sub menu of Point
Sub Menu of Poly
Sub menu of Line