Bartender really solves the problem of an overcrowded menu bar using such a simple set of concepts that it's a wonder that no-one thought of doing it before. It's a beautifully executed app and it doesn't take a lot of looking after once you have set up the initial configuration. Most importantly it allows you to take control and ownership of what goes into your menu bar (and where) rather than the apps themselves (and their developers).
|Bartender in action (from developer's website)|
If you don't believe me or the developers, just take a look at some of the reviews recently published in Macworld, MacLife and Cult of Mac. If you'd prefer a video, here's one on YouTube. For reference, Bartender is no longer in beta but is fully functional and currently on V1.0.6