FrontRowTunes shows the currently playing iTunes track FrontRow style. The window itself is adjustable, you can just have it on parts of the screen (or your secondary monitor), or full-screen it to have a distraction-free song display.
The view is somewhat customizable, you can choose between black and white background (as on the iPod nano 3rd gen) and see the playing position as m:ss and/or as a bar. Those features (and others) are controlled via keyboard shortcuts, just press i in FrontRowTunes to see a list of all of them.
Version 1.0 March 23rd, 2013