However, without leaving the application switcher, you can quit or hide/unhide applications. Select the icon of the program you want to quit or hide, and press 'Q' to quit and 'H' to hide. Select the program you want to go to (for me, usually just the one I started in), and release the command key. This method also works for unhiding apps, just press 'H' again.
This is a great way to quit and hide applications without changing focus, and you can do it all with the keyboard. I've found it much faster than using the dock or switching, quitting, switching back.
Also, (I believe this has been noted here before) hold down option before dismissing the switcher and the selected application will come to focus and open the most recently minimized window, or, if there are no minimized windows, make a new one.
[crarko adds: I tested this, and it works as described. I think this has been around quite a while and may well have been mentioned here before as a keyboard shortcut, but shortcuts are always appreciated by the newer readers.]

