No that is not quite what I was looking to accomplish. The goal would be to see property/function list disappear as well and a nice add would be to NOT maximize the application.
The other problem with the method you mentioned is the poor implementation of the restore window button. So the developers chose to override the way Windows handles the restore so that the full screen mode is either your whole screen or nothing at all. Try it yourself, click the restore button and it only affects the MDI children not the application window.
Really works against the developer when you want to compare code listings using PL/SQL Developer as one tool and some other tool.