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Every now and then WindowShade would be dazzlingly useful to keep me productive. Mostly though I just liked it to be playing a mini-iTunes player window in the corner of my screen while I worked. For this, I just used the part of it that let me keep a window on top of other windows, but that was just one of the things you can have it do. It was worth it.
No separate application is needed- just use Compiz. Install CompizConfig Settings Manager if you haven't already. Go to the 'Extra WM Actions' in the 'Window Manager' section. Find the option named 'Toggle Always-On-Top' and click the 'Disabled' button to the right of it. Check the 'Enable' box and then it will prompt you to choose a hotkey to control it. Use the 'Grab key combination' button and just type what you want it to be. I chose