I've decided to further tidy up my desktop :)
Got rid of the panel/taskbar as my dock can now replace it fully in terms of functionality. As a bonus I've found that the dock even has all the widgets I wanted to run!
Also since I don't really use a desktop, I've decided to do away with it using this code:
gconftool-2 --type bool --set /apps/nautilus/preferences/show_desktop false

Also changed my color scheme, theme, font, cursors, window decoration and replaced a few apps:

Clockwise from top: Nautilus Elementary (better than Nautilus!), Gloobus (preview any sort of file instantly from Nautilus), Scribes (awesome lightweight code editor), AWN (dock), GnoMenu (running as a docklet), Pidgin.
Wallpaper: Livewire by ~powerofpi
Theme: Orta
Font: Comfortaa (my current fav. font - I use it everywhere, even on the phone! Worth trying it out if you haven't heard of it)
Cursor: Gruppled (Black)
Icons: Faenza (Dark)
Window Decorator: MinimalLittleGlass (for Emerald) (customized by me to show window titles)
Other user-experience apps not-seen-above-but-worth-installing: Gnome-do (Run dialog replacement), Guake (Quake/half-life style drop-down terminal), Easystroke (Mouse gestures on steroids), wmctrl (Aero Snap like effect)
------
Btw folks, if you too have customized your desktop, it would be helpful for everyone if you could share what theme/wallpaper/app etc you're using like I've done above. Cheers!