Thanks to lifehacker for linking to the Visor app today. This is an excellent app, Linux users might already be familiar with yakuake for KDE, which serves the same purpse. Basically it’s a terminal emulator that can drop down/windowshade just like the terminal functions in popular FPS games like quake.
This is an extremely handy tool for people like me that always just want a terminal handy for a large number of tasks done during the day. I normally keep a virtual desktop tasked to this, with the handy iTerm with tabs open, I like having a quick tool available when I’m in another desktop, just for the tasks not worth switching for. A quick hot key and a real terminal.app session slides down for easy use.
Visor accomplishes this via the SIMBL tool, which allows you to plugin extension code into cocoa based applications.