I recently ran across a little Mac application called Bartender the other day.
The tool caught my eye because its purpose is to tidy up the OS X menu bar. After installing Harvest to do my time-tracking, I started to feel like my menu bar was getting a little crowded.
Bartender lets you add your menu bar items to a list and then it will stick these apps into a little drawer, hidden away until you click on the Bartender icon. It seems like a convenient way to collapse the busyness of the menu bar and, on the surface, the tool works pretty much as advertised.
There are a few "gotchas", however.
Currently, Bartender doesn't work with system items. Things like Bluetooth, VPN, WiFi, volume and battery life won't disappear into the Bartender drawer as you'd hope, so, even though my menu bar has shrunk considerably, these icons just won't go away... (yet, they are working on a fix to add that functionality.)
One other strange thing that happens on occasion is that the app will leave little blank gaps in the menu bar. I'm not sure what is causing it but the app is in beta so I'm sure they'll clear things like that up before a full release.
During the beta, the app is on sale for $7.50. You also can demo the software to see if it's something that will help you out.