Topic: new composite manager: compton
Not really a script, but I forked Dana Jansens' version of xcompmgr and added transparent titlebars/window frames, transparency for inactive windows, and shadows on argb windows (e.g. transparent terminals). I also fixed a few things. Openbox is the only window manager I have tested it with so far. It also has menu transparency thanks to Dana. I think this is a good feature set - it's roughly the same feature set the xfce compositor has, except it's standalone. After this, I'm just going to maintain it, and optimize it hopefully.
I'm sure there are people like me out there who are frustrated that there aren't that many options for a standalone compositor, so I figured you guys might be interested: https://github.com/chjj/compton .
Build information is in the github readme.