Stickshift Software has released Mailsmith 2.3.1, which fixes a bug that prevented Space-bar navigation from working properly, plugs some memory leaks, and avoids checking the installed version of SpamSieve to avoid problems with newer versions of SpamSieve. (Free, 25 MB)
Spin Through Toolbar View Options
Although many people never change their toolbars from the default settings, all standard toolbars on the Mac offer six states: icon only, text only, and icon and text, with all three coming in normal and small size. You can change them by choosing View > Customize Toolbar.
But there's a shortcut that makes it easier to check out each variant. Simply Command-click the toolbar lozenge at the upper right of a window, and the toolbar switches to the next view. Click it enough times, and you cycle back to the start.