If you are unfamiliar with Drupal & CCK 3,
I suggest to skip this post all together, sorry.

I've been searching for the past week, for a solution to my problem:
I tried to add a content type where you can add a "Taxonomy content field"
so you have a vocabulary of things you can add from and/or add your own.
but I needed a matching "Text field".

The idea was that the Taxonomy+Text would be some sort of Attribute+Value pair.
I thought it was not uncommon and surely something like that is built in Drupal.
I've realized after looking into Drupal.org that many people are interested in this,
but the problem is not quite solved yet.
After doing a lot of digging, I've found that in the Beta version of CCK3
(my guess is that CCK3 would be released for Drupal 7), there's a module called

Content MultiGroup (bless this module), which does Exactly what I wanted.

On a side note, I just wanted to say, the regular CCK field group is pointless.
It doesn't do anything but letting you collapse the fields together, big woop.

Anyways, Just wanted to praise CCK3 and Drupal in general.
I keep learning new things about it every day.

Cheers.