I'm not sure why it's not possible to have features in release templates.
Phases and milestones are nice, but features are what actually have the status.
This would be especially powerful for recurring releases.
For example, I'm manually creating a release each month for our monthly webinar. Each of these releases contain 12 features.
I'd love to make a release template for this to save myself the time of manually creating 12 features per release.
I thought of transitioning some/all of these features into phases/milestones, however, this doesn't translate well because phases/milestones have no status.