The main menu and toolbars aren't completed just yet (more of a placeholder), worked on getting the general layout (which is all resizable) complete. Also got all the folder editing (new, rename, delete) via context menu and now include drag 'n drop folder moving. The treeview drag 'n drop emulates the behavior of Windows Explorer and Outlook 2003 (the folders highlight as you drag the cursor over them). The favorites list has also gained a context menu for open, rename and delete.
[update] added a link to a full size image.