As far as I've played with it, the top menus are less customizable. I can't seem to find an option to have the usual "File - Edit - View ... ect" menu bar above the main address bar. Also, tabbed browsing always has a tab bar there even if you only have one page open and the tab bar is fairly large making this pretty annoying. Granted I only took a quick look through the options, but if the ability to change these things is there, it's not easy to find.
So, I just turned off tabbed browsing to remove the bar. It's not like I ever look at more than a single page at a time with IE.