What you need:
a transparency capable video card
ubuntu 10.04 x86 or x86_64 (not tested on other distros)

gtk2-engines-murrine 0.90.3+git2010032 (If you have an updated 07/2010 ubuntu 10.04 you should be fine)

compiz 0.8.4 (and dependencies)
compiz-fusion-plugins-extra 0.8.4
compizconfig-settins manager 0.8.2

all of those can be installed via synaptic
Visual effects should be enabled under Appearance Preferences


What you will get inside the zip file:

Sunglass.tar.bz2
{
Is a nice, simple murrine theme, yet very fast and lightweight.
Can be installed under Appearance Preferences, or directly extracted to ~/.themes
if you want your root applications (such as Synaptic) also to use this style you should also extract to /usr/share/themes or simple run in a terminal window:
sudo cp -r ~/.themes/Sunglass /usr/share/themes
}

fakeargb
{
which is a Compiz Color Filter plugin, can be placed anywhere, although I recommend on ~/.compiz
then it should be loaded on compiz
press "Alt+f2" then type "ccsm" (without the quotes)
Make sure "Opacity, Brightness and Saturation" plugin is enabled and on the "Opacity" tab, under "Window specific settings" add a entry for "any" (without the quotes) and with the value 99
Back on the CcSM main menu make sure "Color Filter" is enabled and on the "Filters files" add the full path to the fakeargb file, as presented on the screenshot, you probably should delete the other filters as they are mostly useless
leave "Filter window decorations" unchecked
and set Filtered windows to "any" (without the quotes)
by default the filter can be activated by pressing "super+d"
}

fakeARGB.sh
{
If you do not want to press "super+d" every time your computer starts you might want to add this bash script to your startup
can be placed anywhere although I recommend on ~/.compiz
you might have to change the file properties to become executable, do that by running on the terminal "sudo chmod a+x" and the full path to the fakeARGB.sh file, for example:
sudo chmod a+x ~/.compiz/fakeARGB.sh
add a new entry on "Startup Application Preferences"
named it as you please
the command should be the full path to the fakeARGB.sh file
and comment it as you please, as shown in the screenshot
The script has a 20 second delay which is assure that "Dbus" compiz plugin have already started (make sure this plugin is enabled under CcSM main menu)this might have to be increased or decreased according to your processor speed
}

gconf-settings.sh
{
is a bash script, only need to be run once, the purpose is to change a few settings to match the metacity transparency with the fakeargb plugin, alongside padronizing the look and feel of the theme.
you might also have to make it executable with the same "sudo chmod a+x" method
}

The final result should be the same as the screenshots

special thanks to:

Compiz Themes.org user w0fl0x for the fakeargb plugin
http://compiz-themes.org/content/show.php/Fake+RGBA+for+Compiz+Fusion+Color+Filter?content=94331

and the Gnome-Look user bababoss for the Lucid X (aka Karmic X) metacity theme
http://gnome-look.org/content/show.php/Lucid+X+%28aka+Karmic+X%29?content=117640