Just in case you don’t have a TUAW feed…
I’ve been using “Think!” (Horribly named, mind you… try figuring out the right query string to find this application through Google, because I can’t… maybe the glorious google hasn’t indexed it yet…) for a little bit, now, and it seems like MenuShade for the entire desktop. I actually suggest you use both, because it seems like Think! doesn’t actually do anything to the menubar.