Nice idea, poor execution.
Whatever method it uses to create the toolbar is pretty brutal - it sort of pauses as it thinks about it, and when it finally sorts itself out the entire taskbar sort of "grows" a few extra pixels in height. It's also kind of annoyingly awkward to position it, but I can't see an easy way around that. I still find it amazing that not many of these applications have duplicated Winamp's approach - ie, the option to run in the tasktray only, if required. It sounds silly, but thats one of the main reasons why I won't run iTunes at the moment, it just pisses me off having it sitting there in the Task list instead of in the Tasktray (especially because that's how it behaves even when you run it in "Mini Player" mode).