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Windows XP Tips, Illustrations and registry edits
Tweak UI for Windows XP provides an option X-Mouse using which you can enable the feature. By pointing the mouse on an application window, you can activate the application (without clicking on it). It also provides the auto-raise option which brings the activated Window on top of all the existing application Windows.
Tweak UI can be downloaded from the following Microsoft site:
v2.00 for Windows XP | v2.10 for XP SP1 and above