This python script creates a menu like in 2.49 for setting the manipulator type laid out as follows:


Translate
Rotate
Scale
Combo
Disable

calling the menu will enable the manipulator if it is currently disabled...

selecting the items change the manipulator type appropriately except for "disable" which turns the manipulator off.

I've also submitted an "addon" version of this script to the "extensions" repository but thought that I may not be alone in missing this from 2.49!

If accepted, i'd suggest replacing the "context toggle" that just enables/disables the manipulator (on ctrl-space press)in the 3d view general keymap with the following

km = bpy.context.manager.active_keyconfig.keymaps['3D View']
kmi = km.items.add('wm.call_menu', 'SPACE', 'PRESS' , ctrl=True)
kmi.properties.name = "VIEW3D_MT_ManipulatorMenu"

It's a simple patch, but I think many 2.49 users miss this functionality.