We’re currently working on defining a compact mode experience. I will post more details when we have more to share.
Still waiting on a usable interface...
The reply to chat "bubble" is pointless and confusing. That bubble keeps scrolling up as new ones come in. Most don't use the "reply" and treat it like a normal chat app. With that in mind, the chat "bubble" consumes way too much space.
Take a page out of the HipChat UI design -- Yes, I know they're replacing it with Slack. The design though is simple, compact, etc. It even shows you the members of the channel and their status -- there's another vote for this feature as well.
This feature item is still in the works. We will keep you posted as we have new info from the feature team.
Still waiting on basic functionality...