Not sure how it would look starting a second bank of menu buttons. I still reckon just moving the buttons underneath the RSS would be the way to go, especially if we are gonna see more features requiring access from the home screen.
We could move all the buttons to below the RSS, creating a shortcut bar. Where the buttons are at the mo would be be left blank, until you are actually navigating the buttons (the shortcut bar) and then the name of the button you have highlighted would be displayed, ie, favourites, filemanager, settings etc.
I would probably even go further and try to keymap it so you can change focus, from the menu to the shortcut bar with one press. Ie, you wouldnt have to press down six times to get to the shortcuts, you could either have one button mapped to switch focus, or maybe even just have it do it automatically, being up and down shifts focus to menu, left and right shifts focus to shortcuts.
Here is what im getting at, I am no whizz at graphics so its fairly crude but you get the idea.....
(IMG:
http://i43.photobucket.com/albums/e352/XBNormUK/screenforshorctutbar-1.jpg)
You can see there would be scope to add as many buttons as required to accomodate future features, and I think it retains the clean uncluttered look of the skin. People could probably quite easily customize the shortcut bar for their own requirements too, ie remove favourites and put in Xlink kai etc.
Anyways, just my thoughts, i would really love to see more developments in PM3 and i think this would do it without compromising on the look.