Here's a screenshot of my Fedora 16 install, set the way I like it. Nice clean look with gray tones, slight font hinting, cool themes and icons. Here's how to achieve this look.
The background image is included in the install by default. It's the one with the Gnome feet made out of water droplets. To get the theme installed, open a command prompt and enter the following commands:
sudo yum install gtk-equinox-engine nimbus-icon-theme light-theme-gnome gnome-tweak-tool
After the installations are complete, launch Advanced Settings (located in accessories) and click the Theme menu. Select the following:
Window Theme: Equinox Evolution Dawn Squared
GTK+ Theme: Ambiance
Icon Theme: Nimbus
Then click on the Shell menu and select "All" for the arrangement of buttons on the title bar.
Finally click on the Fonts menu and select slight hinting.
As for the terminal colors, open a terminal window and select edit - pofile preferences. Click the colors tab, uncheck the "use colors from system theme", click the color box next to "text" and set the color code to #EBE8E8, then set the background color to #161111.
Looking good now? Enjoy!