Agreed on the small submenu issue. I think this instant behavior makes the most sense when it's always the case that submenu.height() == menu.height().
Was pointed to http://michelf.ca/blog/2005/mac-sub-menus/ by @gecko this morning, which brings up the opposite (and legit) problem: very, very long submenus.
Mega dropdowns w/ equal submenu height are a nice use for this, though.