Comment 7 for bug 160738

I would also like to see this fixed. The menu location should logically (IMO) be tied to the object it will act upon (where the focus of the user's attention is), not to the (arbitrary position of the) mouse pointer.
If the context menu is activated by using the right mouse key, both locations are (more or less) the same. If the menu is activated by the menu key, the mouse pointer can be in another location.
Ideally the upper left corner of the menu appears in the center of the bounding box of the related object (e.g. a the text of a listview item, a desktop icon).