I'd like a mod that makes the compass vertically smaller (horizontal is fine) and have it located at the bottom of the screen (below the health bar, when that is present - may need to move health bar slightly up)

Yes I agree it would be better down the bottom, although im loving having the compass off altogether (bShowCompass=0 in the ini file), leaves you to explore by sight and sound and I only resort to the map when in a rush!

see i like having a compass, i just hate having it at the top and so in-yo-face-fool as it is by default.

I would like if someone could make additional "regular-like" compass (round) that would not have any info in it.

I'm sure whatever work DarN et al are doing will have these options eventually. Smaller compass or the ability to turn it off completely are some the first things that get changed usually.

After anolyze of the HUD, it appears that the compass is a bunch on elements working "together". First you cannot change its place manually. It is placed up there by actionscript. Second, if you move the compass down by editing the action script it seems you also have to move everything that should appear on the compass or it would simply still stay up where the compass was. There is also the shout meter which is around the compass to move to sill have a proper integration.

Now at the bottom on the HUD there are line reserved to subtitles. So you would need to put your compass either above those and then there is he health meter so above that again and that makes it a bit silly on your screen or below and some resolution might not display the compass at all if so...