WinGhost 2.0 application allows you to show and hide applications running on your machine. I find this program useful at my work as I do lot of programming at any given time I can have a bunch windows open. I use it normally to hide just my windows I don't access that often. The basic uses can be found on the right mouse click menu. One not listed is a double click on a selected item. It will either hide or unhide the window and restore it to its last known state.
The basic functionality includes showing and hiding visible windows (ones located in the taskbar), closing the selected window, updating the list of windows. The List of windows is also accompanied by a drop down list of separate functionality.
This program will be updated frequently as I get time. If you feel you would like to see any functionality that isnt currently present and falls into the scope of what this program does, please use the email I listed above to relay this ideas.