While reading the blog of Serge van den Oever, I read about Console2. It's a tool that enhances how you work with a console application like cmd.exe or even powershell.exe.

Some of the features are transparent windows, tabs for different command line applications (e.g. one for cmd.exe, one for PowerShell, ...), easy cut and paste, automatic adjustment of rows and columns when the window is resized, etc...