The HUD badly, badly, desperately needs to be customisable. I play with HUD off, as I find it way too big and bright, and intrusive. Especially on a small screen, in low visibility races, it's just plain blinding.
However, in some races you need to know a few things - tyre wear / fuel level or lap number. It annoys the **** out of me that I'm given the choice between giant white and yellow hud with comedy-size leader board etc, the same thing without the speedo, or absolutely nothing.
For each element, just let us pick on/off, a few font choices, colours, opacity, position/size. That would please me endlessly.