RaidFadeMore
 

Fades the Blizzard Raid Frames more than the default alpha
This also adds fading in/out transitions (but they are not shown in this video; v0.2 recording)

I'm guessing this already has been done before though, the CompactRaidFrames have been out for a while ..

http://www.wowinterface.com/download...dFadeMore.html

http://www.youtube.com/watch?v=JIu57FRQeBI