Console2 is a fine replacement for the standard command console that comes with Windows - including Vista. The features of primary value are:
- Tabbed Interface: contains multiple consoles within main window. Switch consoles by hitting Ctrl+Tab or clicking tab window.
- Transparency Support: enables sharing desktop space with other windows.
- Minimal Skin: you can get Console2 down to nothing - not even a border.

Comments
I should add that once you remove the menu the only way to access it is via Ctrl+S.