I've been hearing ramblings on a few blogs about a little app called Terminator. (No it isn't Arnie hitting ya desktop), but in fact a terminal program that can do split screens and a bunch of other funky stuff.
Here's the blurb straight from the
Terminator website:
Terminator is an attempt to maximise useful space on a given desktop for terminals. I’m a sysadmin by trade, so I live in ssh sessions and thus terminals. An extra line here and there over all those hours seems like it’s worth trying for.
Much of the behaviour of Terminator is based on GNOME Terminal, and we are adding more features from that as time goes by, but we also want to extend out in different directions with useful features for sysadmins and other users. If you have any suggestions, please file wishlist bugs!
It can be found in the
Ubuntu 8.04 (Hardy) repositories, and the
Debian Sid repositories.
If you're running those distros, you can
just click here to install terminator
Those still stuck on Ubuntu 7.10 (Gutsy) can also install it. Just add the following lines your
/etc/apt/sources.list file:
deb http://ppa.launchpad.net/gnome-terminator/ubuntu gutsy main restricted universe multiverse
deb-src http://ppa.launchpad.net/gnome-terminator/ubuntu gutsy main restricted universe multiverse
Once done run the following: sudo apt-get update && sudo apt-get install terminator
NB: For Gutsy users, you will get a warning that there is no authentication on the package. As it's from the ppa area, that's quite normal.
The next version 0.9 is supposed to also have tabs and some other nice goodies like drag n drop... (take a peep over here)
One thing I've found is that I like the extra real-estate. No annoying menu to get in the way. I use a lot of keyboard short cuts (like Ctrl_+, Ctrl_- and Ctrl_0 to resize the font sizes). I've found most of the Gnome shortcuts work.
Even better, it seems to be less of a memory hog than what the default Gnome Terminal is. 
The developer is breaking the bonds that hold it to Gnome, so in theory you should be able to use it on other Window Managers like KDE, Enlightenment, etc in the not too distant future.
And now, for the sample screen shot!
Well it appears I'm hooked. I'm looking forward to 0.90 but for mind, the current version does all I need. (Small, efficient and easier to view multiple screens in one window). 
If you haven't used it, give it a try you'll be glad you did!