Status.cs

using System;
using System.Collections.Generic;
using System.Text;
using System.Windows.Forms;

namespace YourNamespace {
  class Status : StatusStrip {
    string defaultResetTo;
    string resetTo;
    ToolStripStatusLabel label;
    ToolStripProgressBar progress;
    System.Timers.Timer textTimer;
    System.Timers.Timer progressTimer;
    double timeToReset;

    public Status() {
      label = new ToolStripStatusLabel();
      progress = new ToolStripProgressBar();

      label.Text = "Ready";
      label.TextAlign = System.Drawing.ContentAlignment.MiddleLeft;
      label.Spring = true;

      progress.Visible = false;

      this.Items.Add(label);
      this.Items.Add(progress);

      defaultResetTo = "Ready";
      resetTo = "Ready";

      setTextDelegate = new Action<string, bool, string>(SetText);

      if (!DesignMode) {
        textTimer = new System.Timers.Timer(2000);
        textTimer.Elapsed += new System.Timers.ElapsedEventHandler(textTimer_Elapsed);

        progressTimer = new System.Timers.Timer(2000);
        progressTimer.Elapsed += new System.Timers.ElapsedEventHandler(progressTimer_Elapsed);
      }
    }

    [System.ComponentModel.DefaultValue(2000)]
    public double TimeToReset {
      get {
        return timeToReset;
      }
      set {
        if (value > 0) {
          timeToReset = value;
          if (!DesignMode)
            textTimer.Interval = value;
        }
      }
    }

    public string DefaultResetTo {
      get {
        return defaultResetTo;
      }
      set {
        defaultResetTo = value;
      }
    }

    public string ResetTo {
      get {
        return resetTo;
      }
      set {
        if (value == null)
          resetTo = null;
        else
          resetTo = value;
      }
    }


    public void SetProgress(int value, int maximum) {
      SetProgress(value, 0, maximum);
    }

    public void SetProgress(int value, int minimum, int maximum) {
      if (InvokeRequired) {
        BeginInvoke(new Action<int, int, int>(SetProgress), value, minimum, maximum);
        return;
      }

      this.progress.Maximum = maximum;
      this.progress.Minimum = minimum;
      this.progress.Value = value;
    }

    public void ShowProgress(int duration) {
      if (InvokeRequired) {
        BeginInvoke(new Action<int>(ShowProgress), duration);
        return;
      }

      progress.Visible = true;

      if (progressTimer.Enabled)
        progressTimer.Stop();

      if (duration > -1)
        progressTimer.Start();
    }

    public void HideProgress() {
      if (InvokeRequired) {
        BeginInvoke(new Action(HideProgress));
        return;
      }
      progress.Visible = false;
    }

    public override void ResetText() {
      if (InvokeRequired) {
        BeginInvoke(new Action(ResetText));
      }
      label.Text = defaultResetTo;
    }


    Action<string, bool, string> setTextDelegate;

    public void SetText(string text, bool reset) {
      SetText(text, reset, defaultResetTo);
    }

    public void SetText(string text, bool reset, string resetTo) {
      if (InvokeRequired) {
        BeginInvoke(setTextDelegate, text, reset, resetTo);
        return;
      }

      label.Text = text;

      if (textTimer.Enabled)
        textTimer.Stop();

      if (reset) {
        textTimer.Start();
      }
      this.resetTo = resetTo;

    }


    void textTimer_Elapsed(object sender, System.Timers.ElapsedEventArgs e) {
      textTimer.Stop();
      if (InvokeRequired)
        BeginInvoke(new Action(() => label.Text = resetTo));
    }

    void progressTimer_Elapsed(object sender, System.Timers.ElapsedEventArgs e) {
      progressTimer.Stop();
      HideProgress();
    }
  }
}