Discoverability is one of the distinct advantages of the GUI, and lately I’ve found it to be an often fought for concept. There is a trend in the UI I see lately to either hide all functions in places most users would not easily find, or obscure them behind difficult to recognise icons. But this wonderful discoverability of the GUI has a dark side when you bring all of the possibilities to the forefront, which is often the strategy with Windows UI, you run the risk of leaving no work space for the user or turning your productivity app into nothing but a large piece of chrome.
In the exaggerated example above, is this interface discoverable? Certainly! All of the functionality is right there. But you pay a cost in terms of screen real estate.