Windows 7 Desktop peek is a new feature in Windows 7 which lets you see what is on your desktop without minimizing any window and that with a mouse hover. However there is a delay of 2 to 3 seconds in that. If you want to make it instant you can use the Desktop peek tweak to make it instant or increase it if you wish so. Also you can disable or enable it if you wish.
Desktop Peek by default is available at the end of the taskbar in Windows 7. Download Desktop peek Tweak from here.