Yeah, though as ocharles and alexchamberlain (and myself, actually) have mentioned, it has now been implemented as of January 2012. The issue now is that it doesn't seem to be enabled by default (afaik) and doesn't seem to work with all packages.
As for pacman itself - I agree. Great name and one of the fastest package managers I've ever used.
Also, I believe that "pacman" definitely wins the award for best package manager names.