Bowtie gives you a desktop widget, displaying current playing artist,song,infos (lyrics,rating whatever)
For skins i recommend:
It also features a Growl integration so you get those nice info bubbles on play/pause/track change.
The Last.fm integration is also a nice thing to have for you social network guys ;)
And my current desktop with Bowtie (dev system bout to get updatet to Lion):
Hope you like it, as always feel free to post questions and suggestions in the comments.