[newbie] regret adding the Application Launcher

[Jon Dowd]

I have a 14" monitor and I regret adding the Application Launcher to my 
Panel. 
I can't figure out how to remove it. I have tried to right click on it 
and I have tried to configure the panel menu.
What happened to (or how can I use) the KDE 1.x feature of pressing F2 and 
seeing a command line box?
Thanks, Jon Dowd