Maybe it's useful, but do you have to go back to the Today screen to manage applications? I use Magic Button, which is free and does about everything this does. The free Power Status takes up 1 pixel at the top of my screen and gives me battery and memory status at all times.
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Current devices: iPhone 3G. Previous devices: Samsung Epix and 1st gen 32GB iPod Touch BlackJack II, iPaq 6945, iPaq hx4705, Dell Axim x30 high, iPaq 3765.
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