Drop Caps is an old WordPress plugin that many bloggers use for making the first alphabet larger than the normal font size of your website content. It works for posts, pages and comments Although the plugin hasn’t ben updated in over 2 years but still it works fine in latest WP release i.e. 3.5.1 . I have already check it and it is working fine. The plugin comes with some cool CSS styling and lots of other options.
Whenever someone registers on your BuddyPress site you can automatically send a welcome message, friend request, group invitation and also you can redirect to a custom page using Welcome Pack plugin for BuddyPress. You can do a lot more, go through this tutorial.