Saw over MajorGeeks that Totalidea Software has released Trans-XP 1.01
Trans-XP, the software to make any application window and most of all parts of Windows XP transparent.Download
Transparent windows help you to keep your desktop organized - there's no need to minimize or to move a window to see the content of a window lying under the topmost window. Make the topmost window transparent and you can see through it!