After a long wait, I am releasing a free WordPress Theme called Jazz.
This is a minimalistic blue-colored theme with widgetized sidebars, dropdown menus and ad sections. The home page shows the latest post with a short excerpt, and all the other posts on the homepage have been uniquely designed to show a black layer with post title and date, which upon hovering, reveals the image beneath it. This is done through jQuery. The theme contains three ad sections which can be configured through the header.php and sidebar.php files.
Jazz WordPress theme comes with integrated menu system that can be configured under wp-admin -> appearance -> menus.