Yes it is possible... don't worry, i've already figured out how to do it...
.... I've been experimenting a bit... but it won't be possible to do it the right way, the way i'm doing it, is that you have like 1-5 lists, each containing a max of 150 contacts, and then when you chose ex. list 2, you will get all the status's and nicks of all the contacts in that list, but you won't recieve any information about the contacts in the other lists, and then when you shift back to list 1 again, the list will be update with the current nicks and status's of that list... if you get it?....
... it works, but it would mean that you would have to use "an external" list viewer to view these contacts instead of using the ordinary msn messenger list, and this will also mean that you will loose the msn plus! plugin menu and stuff like that, but I might researh in this a litle later making it possible to do exactly the same as the original msn messenger.... but we'll see how it works out...