We examine the effects of melt depletion on density and anharmonic VP and VS on the basis of the melting relations of fertile peridotite between 1 and 7 GPa. We incorporate the effects of variable mineral mode and composition into a parameterization of mantle residuum density and velocity, using a new compilation of mantle mineral physics results. The effect of melt depletion on mantle density changes with pressure, and at 20% melt removal, residue density changes are -0.42%, -0.46%, -0.90%, -1.14%, -0.95%, -0.66%, and -0.57%, for pressures of 1, 3, 3.5, 4, 6, and 7 GPa, respectively. We note that at adiabatic temperatures, realistic composition upper mantle has a higher thermal expansivity than olivine, ranging from α = 4.91 to 3.47 ¿ 10-5 K-1 between 1 and 7 GPa. This implies that 1% melt depletion is equivalent in density effect as a 3--15¿ increase in temperature, depending on pressure. Under Archean cratons, where cold melt-depleted mantle generally has been considered to have the same density as fertile adiabatic mantle (i.e., is isopycnic), we find subcratonic mantle formed above ~110 km is negatively buoyant with respect to adiabatic mantle. This suggests that vertical transport of residues initially formed above 110 km may play a role in the stabilization of subcratonic mantle. Regarding VP and VS, melt depletion has almost no effect, except for a small -0.5% change in VP at 20% melting of spinel peridotite. The major element effects of melt depletion are thus insufficient to produce the high mantle velocities imaged beneath cratons or to cause significant velocity variations.