The objective is to have a gnome terminal running as the desktop background, right above the actual background image, that won't be displayed by the statusbar or ticker.
It should look something like this:
Full transparency
or
Semi-transparent with shadows (using Xgl)
Ok, lets get started... 
1) Download devilspie
Code:
sudo apt-get install devilspie
2) Create a configuration file
Code:
mkdir ~/.devilspie
nano ~/.devilspie/DesktopConsole.ds
3) Paste the following configuration (press Ctrl^X to save and exit):
Code:
(if
(matches (window_name) "DesktopConsole")
(begin
(set_workspace 4)
(below)
(undecorate)
(skip_pager)
(skip_tasklist)
(wintype "utility")
(geometry "+50+50")
(geometry "924x668")
)
)
Notes:
- i use workspace 4 but you can use whatever you like.
- you should at least adjust the geometry lines to match your screen.
- Read the devilspie wiki, for other commands!!!
4) Create a new gnome-terminal profile named "DesktopConsole"
- in the "General" tab, untick "show menubar by default..."
- in the "Scrolling" tab, select "Scrollbar is" -> Disabled.
- in the "Effects" tab, set "Transparent background" and shade to "None" (or to whatever you prefer)
5) Add devilspie and gnome-terminal to the Startup Programs in your session:
in System->preferences->sessions, "Startup Programs" tab, add the 2 programs:
Code:
devilspie
gnome-terminal --window-with-profile=DesktopConsole
6) Logout, Login 8)
check to see that devilspie is running *before* the gnome-terminal command.
Thats it!
Edit:
added screenshot
