I covered up the User portrait with the target portrait and tried to keep as much as possible in th bottom 1/5 of the screen. I've been messing around with it over the last few weeks and I finally have a build I'm comfortable sharing. If you like what you see, you can download it here.
04-15-2012 *Updated to version 1.1 - changes include modifed opacity, adjustment of quest log (moved up slightly above world map and increased length) and placement of combat indicator above center portrait.
This is mine, it's to reduce the need of ever needing to look around the screen, and reduces clutter and keeps everything important within sight. My top hotbar consists of using the keybinds 1,2,3,4,5,R,F,C,X,Z,T,G and my second is my Naga buttons which are bound to shift 1-12, bottom bar is alt+1,2,3,4,5,R,F,C,X,Z,T,G,. Heheh, and this was taken in a game against Taugrim :3 (http://i.imgur.com/o5xAn.jpg)
This is my UI. I've always gone for the minimalist look and as little clutter on the screen as possible even with my old MMO's. I just can't play on something that has the portrait frames/target frames in the middle of a screen, even as a healer.. the only downside is that I can't get the buffs to go smaller, but UI customization is my favorite thing in 1.2 :
The Target portrait and the target of target disappears if you have nothing targetted, showing just your portrait for a clean, uncluttered look. :) I'd like to say that I am fortunate still that I have 20/20 vision in my thirties, that''s why I could have them that small.. :P
I have a few setups, but I find this one works best for me in pvp as a healer. The Operation frame is right below the focus target frame, that way I can see right away when people need heals. The screenshots not recent enough to show more adjustments to the position of the frames. Things are more centered now and evenly spaced.
I had a setup very similar to this, but the operation frame was on the right, where the information box is. I just found looking over there took too long for how fast people get dropped in pvp.
This is one that I came up with when 1.2 went live. I have since tweaked it a little more. My party and operation windows appear on the left over the top of my companion window. Target of target appears inbetween my portrait and the target window, with all the castbars as big as I can get them just above the portrait bars wit henough room to see buffs/debuffs etc (handy for Ops & pvp). I have since decided the quest helper looks better directly below the minmap and the target tooltip is bottom right with focus target slightly above it. As with all my custom ui's it's constantly being tweaked!