For anyone that uses emacs, there is an excellent plugin "undo-tree" that solves this problem in a slightly different way. Everytime you undo a series of actions and then perform a new action, it creates a branch in the "tree". You can then visualize the tree and move through it quickly your entire buffer history.

For those that use vim, gundo.vim visualizes the "undo-tree" and allows you to preview / jump to any revision: https://github.com/sjl/gundo.vim