#1 Change the scale and opacity of the target healthbar/frame. Make it slimmer like in Skyrim.
http://i.imgur.com/DdwESRi.jpg
Through Azurah and Wykkyd's Full Immersion I have already been able to make the compass and healthbar similar to Skyrim in terms of scale and position.
http://i.imgur.com/j01d3qv.jpg
#2 Circonian's "Hide Target Frame" addon hides the target frame when out of combat. I would love to be able to just hide the target healthbar, so that you can still see the name and level of the target when out of combat.