As I've mentioned before, I have a set of changes I've made to dmenu to make it work better for me. I have now put my current patch online as dmenu-4.5-tip.patch in case anyone is interested. I happen to like all of my changes, but then I would. See the start of the patch for a description of what it includes (and then the documentation for the new switches in the revised dmenu.1 manpage).

I expect that I'll update this patch periodically as the main dmenu source itself gets updated, but so far the latter doesn't seem to change very often.

PS: to save the energy of anyone asking: while my patch set contains a bugfix for dmenu's handling of -m (and the manpage), I don't currently feel like breaking it out as a separate patch and then trying to send it upstream. It's too much work for too little chance of success.

Update, August 4th 2015: The patchset linked above is now out of date, per here. My dmenu changes are now in my github repo for my version, split up into multiple commits that you can cherry-pick as desired.