Gnome-panel Transparency Without Shadow

Enabling desktop effects in Ubuntu can be a beautiful thing but it's default handling of window shadows with another effect I like to have which is to make my panel transparent. While I like having my windows make shadows (it makes them look more 3D), I hate it when my transparent panel casts one too.

To get rid of the gnome-panel shadow first install Compiz. Then go to Systems > Preferences > CompizConfig Settings Manager. Under Window Decoration change the setting for Shadow windows from any to !(class=Gnome-panel). 

This way the panel no longer casts a shadow but your windows will still get to keep theirs. Tip courtesy of The Fiddler.