I have a PowerBook 12" and the new iPhoto 05 installed. The problem I'm having is that with the small resolution (1024x768) of the screen, some icons in the toolbar at the bottom of the Organize window do not appear, and I have a pop-up menu to select the non-visible items. This is not a major problem, but it is anoying sometimes.
I found that by using the Share -> Show in Toolbar menu that I can choose the the items I want to see the Organize window's toolbar (at least, for the last part of the buttons in the toolbar; the Sharing buttons we can say). So by removing the ones I do not use (for example, I do not have a .Mac account, so I remove those) and adding the few I use often, I've been able to have only the buttons I want -- and they apear on the screen all the time, without a sub-menu.
Still, the same problem is true with the Edit window, but there's no such hint to help in that case. Still searching for a solution!
[robg adds: I also have a 12" PowerBook, and I've found that you can make all the Edit buttons fit on the toolbar. You'll need to do two things, though. First, iPhoto has to be maximized (green button) to take over the whole screen. Second, drag the vertical dividing bar that separates the Source pane from the Photo/Editing pane to the left. By reducing the width of the Source pane, all of the Edit buttons will fit (and you'll probably gain the room to add one more button to the Organize toolbar).]
Mac OS X Hints
http://hints.macworld.com/article.php?story=20050205090751239