Just to show that there /is/ something happening with Lancelot, here is the new configuration interface for the Lancelot applet (just for the launching applet - not the application itself)

The applet is mostly finished (feature-wise).

It can be vertical (if in a vertical panel) or horizontal (default - on desktop or horizontal panel). It now scales as it should so you will not get it taking 50% of your panel…

The icon can be customized (unlike the current menus in 4.0 - both use KDE logo as icon)…

Lancelot Launcher Config

There still are a few glitches - or to say crashes :) - while applying the configuration on a working applet, but that will be fixed soon.