TLA Systems has released DragThing 5.9.7, a small but significant update to its popular application launcher. The most significant change in this release is compatibility with Mac OS X 10.7 Lion, which comes in the form of several user-interface tweaks and the correction of a number of Lion-related bugs, three of which could cause crashes. It’s also worth noting that DragThing 5.9.7 now requires Mac OS X 10.6.8 or later. ($29 new, free update, 5.1 MB, release notes)
Option-click to Hide Apps Quickly
This trick has been available in the Mac OS for years, but many people still don't know it. If you have too many windows cluttering up your screen, you can hide specific ones easily as you work. When you're in any application, hold down the Option key and click on another app's window, on the Dock, or in the Finder to switch to that other app and simultaneously hide all the windows in the previously current app.