Although the latest versions of Skype now provide a menu control, SkypeMenu still has legs. That's due to a few extras like Buddy listings and preferential control over automatically loading both Skype and SkypeMenu at login or SkypeMenu's launch, and then hiding the Skype program.
However, it comes up short in one main area. That is the selection of buddies for chatting/calling from the menu; this is available in Skype's menu control. As for the ability to run Skype in the background without the program being active, like iChat is capable of doing, is something SkypeMenu cannot control. This is a function Skype must integrate into its program; it may even be impossible due to OS X limitations.
Overall, SkypeMenu is a bit better than Skype's version but it seems to have fallen into dormant development. One hopes the developer will add at least the Buddy selection feature into the next version...whenever that will be!