display list of custom objects as a drop-down in the PropertiesGrid

I want to take an object, let's say this object:

public class BenchmarkList
{
    public string ListName { get; set; }
    public IList<Benchmark> Benchmarks { get; set; }
}

and have that object display its ListName as the "name" part of the PropertiesGrid ("Benchmark" would be good), and for the "value" part of the PropertyGrid, to have a drop-down list of the IList<> of Benchmarks:

here is the Benchmark object

public class Benchmark
{
    public int ID {get; set;}
    public string Name { get; set; }
    public Type Type { get; set; }
}

I would want the drop-down to show the Name property of the Benchmark for what the users can see. Here is a visual example:

So, essentially, I'm trying to get a collection of Benchmark objects into a drop-down list, and those objects should show their Name property as the value in the drop-down.

I've read other articles on using the PropertiesGrid, including THIS and THIS, but they are more complex than what I'm trying to do.

I usually work on server-side stuff, and don't deal with UI via WebForms or WinForms, so this PropertiesGrid is really taking me for a ride...

I do know my solution lies in implementing "ICustomTypeDescriptor", which will allow me to tell the PropertiesGrid what values it should be displaying regardless of the properties of the object to which I want to bind into the drop-down list, but I'm just not sure how or where to implement it.

Any pointers/help would be much appreciated.

Thanks, Mike

UPDATE:

Okay, so I'm changing the details around a little. I was going overboard before wi