Ubuntu-KxSTUDIO 12.04 HP Pavilion DV9000 17" AMD 64 AthlonX2 with 4 Gigs of ram Acer 15" Two MixMan D.M.² Digital Music Mixer Mixmeister Control ION Discover D.J. Behringer BCD3000 USB DJ Controller Behringer FBC1010 Midi Foot Controller
There are currently improvements going on under the hood to the whole library functionality, apparently. I'm totally guessing here as I have no affiliation with the devs, but I would suggest that (a) you will be able to exactly what you ask for here once the new library code is in place, but (b) this feature is not going to be implemented for a little while.
Since it is possible to sort the files by comments, just insert the name of the album there (I use it to sort by different 'styles') Or use the browse-mode. I use the Rhythmbox library with folders for interpreters and sub folders for the albums. For me this works great since 1.6.1 release.