I know the description says "Gets rid of the Google bar on the top."
Just: the name implies: "Maximize Vertical Space".
However, the ugly white stripe at screen's bottom stays also with this script. There are better ones available to compact the new GR layout.

I was looking for this kind of script. I am avid user of Google Reader and from a long time I was looking for this kind of user script.

Thanks a lot for the script. It works just perfectly.