I came across "
Fluid" which is a Site-Specific Browser (SSB). SSB's are browsers dedicated to only one website which sit on your desktop.
"Using Fluid, you can create SSBs to run each of your favorite WebApps as a separate desktop application. Fluid gives any WebApp a home on your Mac OS X desktop complete with Dock icon, standard menu bar, logical separation from your other web browsing activity, and many other goodies." Fluid is created using WebKit which is what powers Safari.
I am currently using a SSB for my RSS reader, my apps like Backpack, Gmail and my server's administration panel. It is an excellent solution because they show up independently as an icon on my dock and also if Firefox crashes, these apps don't crash.
Check it out -
Fluid - Free Site Specific Browser for Mac OS X Leopard - there's a little video to demonstrate it as well. This has increased my productivity so much.