Swing by VersionTracker and check out Windowshade.

It adds window shading to Carbon apps (makes Cocoa app windows transparent, you can adjust the level of transparency) pretty cool.
OMG this program restores the needed functionality in OS X!

And you can still minimize to the dock by pressing control-minimize...

This is just like the feature in PowerText beta!

Now if only Apple would activate this in OS X....

Seriously, everyone should get this. :cool:
CATCH: it only works for 1/2 hour at a time until you register. Might have to shell out 7 bucks for this gem!
That sucks...

I hate CrippleWare... it'd be sooo much nicer to use this w/o having to pay for it. ;)

No, I'll probably pay for it too.. very handy.