I’ve been playing Skyrim (+Frostfall, + RND) and Fallout NV (hardcore mode) with modded minimal HUDs for a long time. During play 95% of the time I have no HUD visible and very, very rarely all HUD elements at the same time (if ever).
For most situations you don’t need to see all or often any HUD elements, but you do need the info at times as you rightly say. Here’s my Skyrim setup for e.g.:
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All HUD elements and text are smaller, more translucent and repositioned.
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If I’m taking hits, my health bar will show. Same for stamina. It will fade out when 100% or holding steady, though remain visible when at a critical level (user customisable).
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I have a key bound to compass, but I never need it really.
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I have removed the player map marker indicator, AKA GPS (mod).
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I have a key bound to show the time, very small top right corner (mod).
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Disabled crosshair completely. I have no problem picking up items and archery is vastly improved by removing it. Number of arrows is a small line of text and numbers which is only visible when holding my bow. Text for picking up/interacting with items is still displayed contextually as normal, but smaller.
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If I’m cold or wet (Frostfall), I can tell by a dynamic bar which only shows when my status is changing or reaching dangerous levels (also hot-keyed/M4).
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I am told when I’m hungry, thirsty or need sleep (RND) via a small text notification, top left of the screen (also hot-keyed/M5). This could also be handled via a dynamic bar as with Frostfall, though the mod author didn’t implement it.
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FOV should be user customisable. I run at 90 and things look good to me.
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IMO the map for KCD should be a selectable inventory item and same with the compass if one is required at all.
You do need HUD elements visible most of the time. Having no HUD at all isn’t really an option though as you do need to know your status and other pieces of info - But this can be achieved through dynamic elements and really asking the question ‘is this really necessary, and if so how small/simple/unobtrusive can it be?’
As to Warhorse’s ‘firm stance’ I thought they were adamant that there wasn’t going to be a third person as it went against Dan’s vision for maximum immersion? As stated previously, I’m a little surprised that they didn’t maintain first person for all the cutsenes/dialogue given how important they believe it is that you’re locked into this viewpoint (maybe they tried it but found it too hard to tell the story?).
Another thing to bear in mind is that they believe they’re doing things differently and really maxxing out the immersion from first person mode (full body + anims for all actions). If third person mode was offered not only would it eat up dev time/money but also some people wouldn’t experience any of their hard work in this area - And this is something which, having given it a proper chance, they may actually find themselves preferring due to the excellent implementation.
I’m not totally against third person for those who want it (really), but there are so many third person games out there already that I’m personally really excited about what WH are doing here in trying to push first person as that’s my preference - I don’t want any of the first person goodness to be compromised by including a second viewpoint.
(FYI - I do occasionally pop into third person in Skyrim/Fallout NV to take a look at my character, but I wouldn’t actually play the game in that mode. I also enjoyed playing H&D2 (loved in fact!), Mafia 2 and Max Payne - All in third person, but I feel that first is best for KCD and I want to see the devs push the envelope here).