I have fluxbox wm installed, and I have seen screen shots of fluxbox with a transparent borderless terminal that displays all the system messages. How can I get one of these on my desktop?

I did something like this with Eterm (I think it was Eterm, may have been Aterm). some time ago.

I looked into the Eterm arguments using Eterm -h and found the ones to set its size, transparency etc... then put the command to launch Eterm with all the arguments I wanted in a startup script I have for fluxbox.

Too look at system commands I'd imagin that you could use the tail program and get it to tail log files or you can just run top in there which looks funky. Fluxbox has lots of things you can play with. I don't know if/how you can make the terminal non interactive like a desktop image (I'm sure there is a way).