A tool which lets you edit the mesh after selecting the bool operation.
After the boolean operation you can move, rotate or scale the mesh and even edit it.
Delete the history to bake the operation onto the mesh.
The LiveBoolObjects can be deleted afterwards. You can turn off the window to assign this command to a hotkey if you edit this mel file with any editor and change the SHOW_WINDOW option to false. If you then want to change the boolean operation to use union or intersection by default change the BOOL_OPERATION option to either 1 for Union, 2 for Difference or 3 for Intersection. There is also an option to not show the wireframes of the meshes.