So after messing around in the settings, i found that if i set my HUD Oppacity(?) to the lowest, the compass goes! So after the discovery, ive decided to begin a completely new character, and play without the compass, health/magicka/stamina bars and crosshair, and on expert.
My question is; how hard is it to play without any magical floaty information and directions, and will my charcter die a premature death by butterfly attack?

the main issue is how much health you have left. Sometimes you can tell from the "blood splatters" on the screen but sometimes it's not very accurate

Ooh I'm tempted to do that as well!

You can hear a heartbeat when you get low on health as well as blood spatter, so you should be able to predict when you're below 20% at least.

Here is the ongoing discussion, http://www.gamesas.com/topic/1368106-try-turning-off-your-compass/

ooh thank you
You'd make good moderator material

Not really my gig, man.