Maybe it's just me -- but as I like to auto-hide my toolbar by default, Windows tray clock does me no good. With Win95, they had a nice clock.exe that could go titleless, analog or digital, and just stay up there showing me the time. It'd get in the way occasionally, but no big deal for me.
As I get new machines at home and at work, I had less and less success finding this old clock.exe program, and I'd wander out to the web to find a replacement bit of freeware or whatnot, but usually came up short with a zillion swiss-army knife solutions that really didn't do what I wanted.
today -- they have an older freeware clock (1.05) that pretty much does what I need. I can't resize it, and it's a little big, but it will get out of my way if I mouse over it for a second or so. By default is does a transparency bit which is very cool -- except that it flashes itself with a full repaint anytime the window underneath it changes, which becomes a real distraction.
But hey, this should work for now.