I have the same problem. I've had to reduce the resolution on my beautiful new 27" screen so that I can see the menu bar without eyestrain. What's the point? Doesn't Mr Jobs wear glasses?
Thanks everyone for posting.
I had the same prob. Cured by going to:
System Preferences -> Hardware -> Mouse
Select the 'Screen Zoom' checkbox
Select 'Screen Zoom' -> Options
'Zoom while holding' ^ Control
Then to enlarge the screen image by
1. With trackpad - Control + Two Finger scroll
2. With mouse - Control + mousewheel in or out
Once enlarged, moving the cursor to the edges of the display will move the display to the desired portion.
As always, completely un-intuitive, but effective once you've decoded the twisted minds that wrote the op system code.