I generally play full screen 1920x1200x60Hz, but at times it would be handy to play windowed and probably closer to 1024x768x60Hz so I could multi-task. The current video settings force you to click on the arrow for each resolution and refresh rate combination between the two options you want.
I can think of a few ways to improve this with separating the refresh value out into its own entry being the easiest. That would make it faster to move through the list.
Another better option in my opinion is to have drop down lists for entries with more than 4 or so options (and separate refresh rate out into its own setting). That makes it easier to move quickly between options that are distant in the list.