I'm currently working on implementing a CSS based dropdown menu for my site that will be located below the image header on the default Kubrick theme that will allow at least two levels of navigation for Pages. It will look similar to the menu in wp-adnin but will dropdown upon hover if there are any children below it (and possibly do similar for children of children).
This will use the standard list_pages() function and not require any hacking of that (at the moment I have a small hack as it adds a "Pages" header to the output by default but I should be able to easily hide that with CSS).
Currently it involves an extra .css and .js file plus the includes for them in header.php plus a few lines of HTML and PHP to add the Pages Menu, it is hacky at the moment so I haven't even got a demo live yet. I was just wondering at this stage if there was any interest from others in using such a menu for the Pages?
I started to do this as I was beginning to dislike my current site design but really loved Kubrick and my image header for it so decided to integrate the rest of my personal site into WordPress by using Pages. Once I have code that is a bit cleaner that I feel comfortable adding to my site I'll update this post with the URL to check it out, hopefully I get to do this tonight but then again it is Friday so it might take a bit longer.