Fedora 12 Gnome comes with its own Terminal Emulator. I like to run XTerm, which is light and easily configured via .Xdefaults.
To install XTerm, start Gnome Terminal and do:
# yum install xterm
Answer yes when prompted.
And wait for the auto-install to finish.
To launch an XTerm, either click with the mouse or launch from the keyboard using:
To configure XTerm, add your tweaks to .Xdefaults in your home directory.
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