Best Onscreen Menu Button Implementation?

So, the Android Menu button was supposedly going the way of the dinosaur as of ICS, but we currently see the Korean phone manufacturers (Samsung and LG) stubbornly clinging to it, and the occasional app still demands that Android supports it (such as GOSMS, which has two separate menus that appear depending on whether you hit the menu key or the on-screen overflow button, in an example of utterly demented UI design).

(For evidence of LG's attachment to the Menu button, note that the upcoming G2 has onscreen buttons a la the Nexus 4, but abandons the Multitask button in favour of the Menu button, with no option to bring the Multitask button back, as seen in these screengrabs from the Engadget hands-on; note that the three-line icon is not Multitask, it's Menu:



For the rest of the world, though, we have most smartphones placing the Menu button as an onscreen option when required, such as with HTC's single black bar at the bottom:



Now, not having tried all that many Android phones from different manufacturers, I don't know how other manufacturers work around this issue. However, I think that Asus has hit upon a rather novel approach:

Make the Menu button semi-transparent, and have it live in the bottom-right corner of the screen.

Here's an example of what I mean, using Opera Mini:



Notice that the Menu button overlaps the Opera button, thus unobtrusively providing compatibility while not unnecessarily taking away screen real estate.

In addition, the overlapping of buttons isn't as much of a problem as you'd think; in my use, I've never hit the wrong button.

Any thoughts on the matter? Are there other, better implementations of the legacy Menu button by other manufacturers, or even custom ROM developers?