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Since KDE 4.10.0 in System Settings > Application Appearance > Style and on the "Fine Tuning" We can enable appmenu. This quite good thing for small screens. But I see one option lacking: appmenu under keyboard shortcut. That's it: hidden until keyboard shortcut is activated and then pops up under mouse cursor. Less space for mouse to travel, no need to aim for windeco button, works with panel on top of screen. It strongly depends on personal preferences but i think that at least for some users this can be supreme solution over currently avaible and correct me if i'm wrong but it looks like a small task.

Pretty, pretty, pretty please!