If I had only one iGoogle page this would be perfect. Since I seldom use more than one it's a nice compromise since it keeps the overall look of the iGoogle theme, but compacts the header.
If you make frequent use of multiple iGoogle pages and could care less about the header background you might want to look at the "Super iGoogle" script.
With Chromium (Google Chrome) I managed to fit all my iGoogle gadgets (Gmail, Facebook and Google Reader) on a 1024x600 netbook screen without a scrollbar; all I had to do was reduce the number of items in Google Reader to 8. Great work!
Installed, reloaded igoogle and all the annoyance is gone.
Very nice script, couldn't find a decent AIO footer and sidebar remover without being it bloated or not functioning properly.
I do have a request, although im not sure if the developer is still around;
Can the feeds be made closer to eachother?
An example that has this function is Better iGoogle.
Anyway, 5 stars.