My New microwave has that feature.
It's a Goldstar that my parents bought for me for christmas, 1985.
You can choose a timed Defrost cycle, then you can put in one or two timed cycles with your desired power levels.
I seldom use more than one time/power-level cycle at a time, though.
My older microwave is a Tappan from 1977 or so. It has a power level knob and a mechanical timer. Plus, it can Brown the Food.
I use both of them regularly, and I have no real need for any additional features. Well, it would be nice if the Tappan had a carousel, but I can turn the plate a few times, if needed.
-kevin