When querying a Status list it would rock if you could return not only the valid options but the corresponding display values as well. It's not to difficult to make a look up table for each value but honestly we are using the schema query to make our code less dependent upon look up tables that are not getting properly maintained. Attached is a sample of the output from a status list. It would be nice if we had a 'display_options' field.
'display_name': 'Status',
'editable': True,
'valid_options': ['apr',
'cbb',
'cmpt',
'fin',
'ip',
'na',
'omt',
'hld',
'rev',
'rdy',
'wtg']}