In my 'Taskbar' I use icons only, flat buttons and combine multiple applications into one button.
I like to replace them with a 'Launch and Task Bar'.
I imagine the 'Launch and Task Bar' to work as following:
If I click on it, it launches the program.
If I click on it again, it does what the usual task bar does.
If it is one window, bring it in the foreground/background.
If it is more then one window, show a list of windows.
(I think for consistency it would be better to show only a list of windows.)