Jason Snell detailed a cool little app called Sleeve 2 on SixColors:
What made me instantly buy Sleeve was its extensive capability to customize the currently playing track information. You can choose to show album art at a wide range of sizes (or omit it entirely), with your choice of corner rounding. You can choose display track name, album name, and artist name, and display them in a variety of fonts and weights. There’s customization for text alignment, drop shadows, and pretty much anything else you might want. You can set the track information to float above everything, always say on the Desktop layer, or float above briefly when the track changes, then land back on the desktop.
It also integrates with Last.fm.