^Of course you can. URxvt can do almost anything you want it to as long as you give it the right config.
Here's an example:
CODE
URxvt*title: urxvt
URxvt*termName: rxvt-256color
!URxvt*font: -*-terminus-medium-r-normal-*-12-120-72-72-c-60-iso8859-1
!URxvt*boldFont: -*-terminus-medium-r-normal-*-12-120-72-72-c-60-iso8859-1
!URxvt*font: xft:lime:pixelsize=7
!URxvt*boldFont: xft:lime:pixelsize=7
!URxvt*font: -artwiz-lime-medium-r-normal-*-10-110-75-75-m-50-iso8859-1
!URxvt*boldFont: -artwiz-lime-medium-r-normal-*-10-110-75-75-m-50-iso8859-1
URxvt*font: -*-montecarlo-medium-*-*-*-*-*-*-*-*-*-*-*
URxvt*boldFont: -*-montecarlo-medium-*-*-*-*-*-*-*-*-*-*-*
!URxvt*font: -artwiz-smoothansi-medium-r-normal-*-13-130-75-75-m-60-iso8859-1
!URxvt*boldFont: -artwiz-smoothansi-medium-r-normal-*-13-130-75-75-m-60-iso8859-1
!URxvt*font: -sgi-iris-medium-r-normal-*-10-100-72-72-m-60-iso8859-1
!URxvt*boldFont: -sgi-iris-medium-r-normal-*-10-100-72-72-m-60-iso8859-1
!URxvt*font: -Misc-Fixed-Medium-R-Semicondensed-*-12-110-75-75-C-60-ISO10646-1
!URxvt*boldFont: -Misc-Fixed-Medium-R-Semicondensed-*-12-110-75-75-C-60-ISO10646-1
!URxvt*backgroundPixmap: /home/geezer/images/translucent-2.png
URxvt*background: #000000
URxvt*foreground: #8f8f8f
URxvt*scrollBar: false
URxvt*secondaryscroll: true
URxvt*matcher.button: 1
URxvt*cursorBlink: true
URxvt*cursorUnderline: true
URxvt*cursorColor: #808080
URxvt*colorBD: #b5b5b5
URxvt*colorUL: #b383c9
URxvt*internalBorder: 3
URxvt.perl-ext-common: default,clipboard,matcher
URxvt*allow_bold: true
!URxvt*depth: 24
!URxvt*dynamicColors: on
!Xft*dpi: 96
!Xft*antialias: false
!Xft*hinting: full
URxvt*transparent: true
URxvt*mapAlert: true
URxvt*visualBell: true
URxvt*urgentOnBell: true
!URxvt*inheritPixmap: true
!URxvt*tintColor: #a8a8a8
!URxvt*shadeColor: #515151
URxvt*shading: 20
!URxvt.tabbed.tabbar-fg: 14
!URxvt.tabbed.tabbar-bg: 0
!URxvt.tabbed.tab-fg: 14
!URxvt.tabbed.tab-bg: 8
!URxvt.tabbed.autohide: yes
!URxvt.tabbed.new-button: no
!URxvt.tabbed.title: no
!BLK
URxvt*color0: #5E5E5E
URxvt*color8: #7A7A7A
!RED
URxvt*color1: #BD877B
URxvt*color9: #E1B2AB
!GRN
URxvt*color2: #7BBD87
URxvt*color10: #ABE1B2
!YEL
URxvt*color3: #BDA87A
URxvt*color11: #E1CDAB
!BLE
URxvt*color4: #7B90BD
URxvt*color12: #ABBFE1
!MAG
URxvt*color5: #BD7BB1
URxvt*color13: #E1ABDA
!CYN
URxvt*color6: #7BAABD
URxvt*color14: #ABD4E0
!WHT
URxvt*color7: #BCBCBC
URxvt*color15: #E2E2E2
Change the fonts to whatever it is you want/have. You'll notice the background is set to pure black and the "URxvt*transparent" is set to true. Then scroll down and you'll see URxvt*shading: 20" .... This means that it's a black BG terminal which is 20% transparent (or 80% opaque if you look at it from an opacity p.o.v)
Other variables you can play with are the "*inheritPixmap" one which might give you better quality transparency if you have a very intricate wallpaper. But if you want shading with the inheritPixmap variable turned on, you'll have to enable and adjust the "URxvt*tintColor" variable as well.
I've also included a "URxvt*backgroundPixmap" variable there (but it's been disabled) which you can set to have tileable images if you desire. For example, make a nice 50% transparent black 10x10px .png square with some noise and Gaussian blur in GIMP/PS and enable it, and you'll have a nice, glass-like blur effect going on. URxvt also has it's own blur function (read the man page) but that can be slow.
Remember, the exclamation mark "!" enables and disables lines in the .Xdefaults/.Xresources config.
Also remember that the settings above are for pseudo-transparency, which is much more usable and lighter than true-transparency, imho. If you still want true transparency, then you'll have to do some reading since you'll need to input the color values in RGBA variables and also (maybe) compile URxvt differently, plus you'll need to enable some form of compositing (xcompmgr, cairo-compmgr...etc) Might as well just run a bloat-ass KDE4 or Gnome3 if you really want that sort of bling, tbh. =^P
Hope this helps. =)
P.S
You really should read the URxvt man page if you can. It's well annotated and there's a wealth of info on it. Variables like *fade can be very useful if you're on a multi-terminal (tiling) setup.
Oh, have fun playing with your Scrotum, btw =P
This post has been edited by G-17: Oct 2 2011, 09:51 PM 
Sep 21 2011, 08:32 AM
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