Revisited jwm window manager the past few days. Wanted something with a bit more Windows-like user interface to set up my kids user account; and since there always seems to be an interest in wm's that are light on resources, I decided to post the results.
Version 2.1 is in the Sid repos; or you can get Version 2.2.2 from git -
http://www.joewing.net/index.shtml Besides being light on resources (
up to 50% less than openbox on some systems, although I get nothing close to that), one thing I like about jwm is that it is self contained. Jwm has it's own panel (called the tray) that can contain a menu, pager, app launch buttons, taskbar, systemtray (called the dock <- poor choice of names there, imo), and the clock. The tray can be horizontal or vertical, and multiple trays can be configured by adding additional Tray entries to the $HOME/.jwmrc; or you can use jwm without a tray by completely removing the Tray section.
In addition to the systemtray, jwm also has the ability to swallow apps into the tray - the example in the Arch wiki is to swallow wicd-gtk --tray - but I haven't gotten it to work. Maybe because I pulled the current version from git.
The other nice thing about jwm is that it is still being developed by the original author, although there can be a lot of time between releases.
All configuration is done through the $HOME/.jwmrc file. This is file is in xml format like the openbox rc.xml file. In addition to the tray configuration, there are sections for autostarted apps, key bindings, and styles -
http://www.joewing.net/projects/jwm/config.shtml ; Very easy to navigate and get the wm up and running to suit your needs. However, there are no gui apps to configure the .jwmrc file.
Jwm plays well with conky, not so much with compositing (on my system anyway). For the screenshot, I added a second panel with just a clock:

So, if you're in the market for a wm that uses a bit less resources than *box, but still want that panel, systemtray, etc ... take a look at jwm.