On my fedora laptop: openbox, tint2 panel, gigolo applet (from XFCE - for mounting disks), nm-applet (GNOME - network manager), and system-config-printer-applet (DBUS notifications, for printing / detecting printers).
These are bits salvaged here and there, and in the end you could ask what's the benefit of running a lightweight wm if you add "heavy" gnome/kde/... applets, but this setup is lower on resources than standard XFCE and way lower than gnome/KDE. I guess that's what the OP had in mind...
(as for xrandr, I tried XFCE's GUI but it lacked some features I needed, so I find it easier to assign key shortcuts in openbox with xrandr command lines I often use).