Here's a Mac OS X freeware utility from Eternal Storms Softwre to enhance iTunes that I'm planning to try out as soon as my Mac OS X 10.5 Leopard upgrade arrives and is installed.

GimmeSomeTune

Its website blurb says: downloads lyrics and album covers, last.fm support ("scrobbling"), Remote Control Support, shows you iTunes' currently playing song, lyrics-window, vast number of hotkeys to control iTunes, mini-controller, GimmeSomeTune has functionality to change its appearance, support for iChat, "Recently Played" menu, a daemon, and much, much more.