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One of my favorite parts of the +Android Police's posts on Play Store releases is looking at the binary size of the APK over the last few months.
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+Kirill Grouchnikov speaking of the Play Store mobile app, I beg of you or whoever has the power, to add a dedicated My apps button to the phone layout of the Play Store just like the tablet layout has.  It's easily the most used button/menu item (for me for sure).
That one is always one extra menu tap away on devices that don't have enough pixels along the X axis to spare.
sadpandaface, my Galaxy Nexus has myriad pixels to spare in the x axis.  it would go exactly where the X icon goes when the search text input box appears.
+Kirill Grouchnikov There has to be a way to make it dynamic enough to only jump there if there's not enough space. I mentioned this very same wish a few years back at I/O to the Market team at office hours, though they had no idea what I was talking about.
The goal is not to crowd as many action buttons as possible next to the title. Or to "just make it a setting" so that people can have infinite configurability. Of all the actions in the overflow this is top spot. That does not mean that it "deserves" to overcrowd the action bar.
+Kirill Grouchnikov Thanks for the responses.  I know your team has a specific vision and that's what you work to.  I (and others of course) have my own view on particular details, but I at least appreciate the feedback.  It is very valuable as a user.
Heh, if you asked me, the overflow button and the whole paradigm needs to be on the bottom for easy reach, especially on large devices. I really wish the top nav didn't get such wide adoption and the official Google nod.

As for the matter at hand, I'd take the My Apps button over empty space (which is vast on large, hi-res displays) or even over the Wishlist button any day. It's all about what is used the most, and that button is used more than any other button in the app. I'd love it if you could at least pull it out there for density/size combos on phones that do have plenty of space.
+Kirill Grouchnikov Any chance the play store will add a setting to show only the apps I purchased in the "my apps" section. This has long been my most desired feature for the play store.
+Kirill Grouchnikov I fail to see your point. That showed several games for me which are something people tend to want to reinstall later due to size etc. Currently, finding your purchased apps in the list of all apps is really hard, partly because the sorting of that list makes it tiresome. For instance, you can probably assume I am more likely interested in finding that app I used within the last year than the one I haven't used since Android 1.5.
+Björn Lundén I agree. An app that I paid actual money to download (not just actual money for fake virtual money) is probably one of the first things I'm going to want to re-download onto a new device.
+Kirill Grouchnikov the reason I want the option to limit the "my apps" to my purchased, is I flash new builds A LOT and as I dont always backup my apps, (like to start fresh), it would be really nice to see my purchased apps without having to scroll through the hundreds I have checked out at some point.

A simple check box that said "only show purchased apps" would be ideal for this purpose.

Also, this allows me to go back and checkout apps I have paid for in the past, but have forgotten about.
+Noel Beale I'm not sure it even has to be a setting. Just displaying the purchased apps at the top in the All apps tab similarly to how Recently Updated is shown in this new update. I'd probably be happy with any implementation as long as it is properly thought out.
If the argument is to restore an app that you paid a couple of bucks for back in 2009 so there's some sentimental value in trying to milk as much value out of it as possible while still not finding enough justification to actually use the app after having installed it on the previous device, because otherwise I guess that you'd actually remember the name of the app, then it's not a strong enough argument. There's a lot of different sentimental reasons for adding more sections based on things you "give" the developers (your money upfront, your money with IAP, your money with ads, your time, your data, your usage numbers so that they can show them to VCs for a quick exit, ...) 

Do you sort your music CDs / movie DVDs based on the price? Do you put those expensive discs that you bought 10 years ago on a special shelf just because you've spent more money on them even though you know that you're not going to watch them, but you would just want to know they are there? Just in case? Analogies break at some point, but things that you actually use are there in your head. No need for a special shelf.
+Kirill Grouchnikov One of the differences between apps and music, is a year can go by and the music is the same, while the app that I liked but found barely workable, has now been updated to super useability. Many apps I bought on sale when they first came out, and ditched as they were not quite ready, but time has passed and I want to check out how they are after many updates.

+Björn Lundén I would be just as happy with that solution as well. It just REALLY sucks to have to go through the entire my apps list, to locate apps I bought in the past.

Maybe it is a tool for a specific phone I just reactivated. Or a tool that works on the older version of Android a backup phone is running. The reasons actually are many, and I think Bjorn hit the nail on the head for a best solution.
+Kirill Grouchnikov I don't need to separate my music between free and paid, it's all paid. Also, I don't need to re-acquire that CD, I already have a physical copy of it. There is no need to "re-download" a physical item.

I do however sort my CDs on how often I listen to them or, in other words, my personal value of that CD. Apps that I've paid for have a higher personal value, or else I probably wouldn't have paid for it in the first place. I also tend to use purchased apps more often than the free apps, partly because of my previous statement about personal value.
+Kirill Grouchnikov No, it's more that I tend to buy games that seem interesting when I come a across an article about it but that I rarely have time to play at the time and don't want to waste space installing. I do want to come back to the game though when my vacation starts. For apps, it's mainly to make it easy to reinstall them on other devices with out having to restore all my apps first and then uninstall about 50 apps manually because I don't want those particular apps on my tablet. If the purchased apps are harder to find in the store I tend to avoid rating them because it's not worth the hassle of finding them (the search results are not always that great).
It's mind boggling that the Play Store team still doesn't realize that yes, the paid bought filter is what so many people want and have for years since it was removed. It's probably the #1 requested item, up there with gifting apps and official promo codes.

Listen to your customers. Please. Ask them what they want. The analogies provided don't translate well into the apps world. 

Personally, I don't just want a paid filter, I want a more powerful filter system, period. I want to find apps that are educational and that I paid for, so I can install everything I'd been collecting in the past 3 years in anticipation of having a child on a tablet, now that this child is here.

I want games I paid for in the last 6 months that have >4 stars rating.

The list goes on. We have our use cases. Simplicity isn't always best. Google, a search company with advanced filters in the regular search, has actually taken away almost all filters in the web Play Store redesign instead and made the search (which is already buggy) less powerful. This just alienates consumers who are otherwise already blindly loyal to the OS and the company.
+Artem Russakovskii I couldn't agree more, all I want is more ways to filter, view, and perform operations (be they in/uninstall, check ratings, etc.) on both the web and Android Play Stores.
I don't care about analogies, at all, because I feel that phones/tablets and apps in general are setting their OWN standard for use-cases. We don't have to interact with our device in a way that was popularized or used with spectacular results in ANY OTHER MEDIUM, we are making our own habits and rules when it comes to devices.
Part of what I want to be able to do is use things like the web Play Store to make my life easier. Whoever made the decision to have 'My Apps' contain any app you've installed, even for 2 minutes, with no easy way to get rid of them, has no idea what their goal is, they're just removing features for no reason.

What would be so hard about this?
- My Apps
--- All Apps
--- Current Apps

Clicking on All Apps gets you to the clusterf*ck of a page that is currently being used, while Current Apps is pretty self explanatory. Then once you're on the Current Apps page, have a small dropdown for all of your registered devices, and filter the page as necessary.
+Will Presley You are able to remove any app you don't have installed from the "my apps" list. Just select and chose delete from list
+Noel Beale On the web version of the Play Store? I know of the multi-select and removal functionality on the device version, but the web interface is what I meant. Thanks though.
I don't know why people want a filter for paid apps they own. Clearly searching my Gmail for Checkout receipts is a better solution. At least until Google decides nobody wants to search their email.
+Peter Sinnott Good thing, I assigned new label for Android Market receipts in GMail, just after I have bought my first app. Bad thing is that they changed e-mail address after renaming store to Google Play. Glad I've noticed that at some point.
+Noel Beale your point is moot. Yes, you have the ability to remove items from the "all apps" page. But when you have hundreds, or thousands, of apps that you've downloaded over a couple years, that list is so big that it would take forever to remove all of the things you don't want. Plus, make one mistake and you could undo your entire multi selection of apps that you want to remove. 
Paul W.
+1 for being able to see all of the apps I own at once. They're mine after all. 
+Randy Havens My comment was simply in response to someone asking about this feature, not recommended as any sort of "solution" to anything.