Linking between custom post types as if they where taxonomies?

Let’s say we create an IMDB like website.

So (for example) we can have two types of custom post types:

• movies
• actors

We would like to see in each movie page all of it’s actors. And in each actors page all of the movies he played in.

Can this cross linking be done using custom post types?

If not, is it expected to be possible in the future?

If not, is there an alternative (in WP) for doing this?

Thanks

Checkout scribu’s post2post plugin, it should fill your needs.