There are still a couple things missing: icon position persistence (so the position when dragging an icon to an area of the screen gets saved/restored between starts of plasma), an obvious way to get at the configuration UI
Switching to folderview is done via the desktop settings dialog with a combobox right under the Desktop Theme selection. Easy peasy.
Jason Stubb's new systray applet also supports hiding icons; we just need an expand button to give access to the hidden icons. I'm pondering whether the hidden icons should appear in a popup or expand the widget in the panel .. hum hum .. Beyond that, the new systray supports much nicer painting of the icons and specialization of the icons letting us transition to a new spec on X11 that doesn't suck ass by mixing new and old style icons without the user seeing any difference (as well as most likely be able to support win32 systray icons on that platform).
So we have a few rough edges to sand down yet, but things are looking nice.