I don't know if this was posted or anything like earlier, but iPhoto has this neat feature that allows you to edit the photo in a different window. In the Preferences panel (iPhoto -> Preferences), there is option to change the behaviour that occurs when you double-click an image. You can choose between the default, opening a new window, or using a third-party application. If you select "Separate window", a new window will pop-up when you double-click any image. It has a customizable toolbar (just like the Finder) and some other features as well.
[Editor's note: This preference setting is very useful if you're trying to make a series of photos match (using a side by side eyeball comparison test), as its the only way to edit more than one image at the same time within iPhoto. When using the separate window option, you can have as many images open for editing at one time as you like; using the default iPhoto behavior, you edit one photo at a time.]
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