I like the hud alot. The contrast from important areas (darker) to less important (lighter) is great. The bottom right corner is just about perfect. I definitely do not think that the hud is too large. I like the little black border on the mini map to let you know when a gen/deploy/vehicle is "out of range." Overall, I think the HUD is a very good compromise. Older players should still be happy because it is familiar (even though some things have been relocated). Newer players should be able to figure out what's going on in-game much easier. It's fresher than the old U2 HUD, yet it has enough in common with it to sedate the diehards.
Nitpicks: a little too colorful as far as the bars go. having green/blue/yellow/orange and the color of your team in the hud is a little too much. I really like the way it was done on the right corner, where the orange blend is the only color that really stands out. The left corner by comparison is too busy. The layout is good, but the color scheme needs work.
I really like the font in the HUD. it's compact but readable, even with the scaled down image-size posted above. I'm really curious to see how the font iteslef scales down to lower resolutions though?
Last one, and it's very minor. I just noticed that the mini-map has a blue border, even though the player is on the red team. Sorry.