I only wanted to share my finding that icons in Fluxbox menu don't look pixeled anymore if you choose png icons with right size.
In the style config there shoud be the right menu.itemHeight: 32
(I like bigger icons, therefore 32)
The menu generated automatically will mostly use 16x16 icons, so in order to make them look smooth you need to edit the ~/.fluxbox/menu file manually. (A programming challenge to make the Perl script find the right icons.) I used leafpad's find & replace function to replace all 16 with 32. Faenza theme should have icons for most of the application in the menu.
Edit: Link to the screenshots post44483.html#p44483