Typing z and pressing TAB should expand to an entry which exists in the current directory

[badmotorfinger]

Typing z and pressing TAB should expand to an directory which exists in the current directory.

Perhaps the "Last Accessed" or some other FileSystem metadata can be used to determine if it's a valid candidate.

[marcinsmialek]

Do you mean that the items in the current directory should precede other expansion candidates?

[badmotorfinger]

That is correct, however, it should still follow the ranking algorithm by taking Last Accessed into account.