I sometimes have the difficulty that the space of my desktop is not sufficient to show every information I need. This happens for instance when I use SSH to work on my rootserver and use a browser to find information.
Vitrite is a 85K freeware that lets you change the transparency level of every windows application with ease. Start Vitrite, bring the window in front that you want to make transparent and hit CTRL + a number from 1-9 with 1 being 90% and 9 being 10%.

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Looks good and except for not working with a command prompt this is a pretty handy free app.
Tried this a month ago. Can look nice :)
Cool