Personally, I'd like it kept as it is.
I think the graphical feedback of the little throttle quadrant is elegant and beautiful. It gives me the feedback of the input settings I need.
The lack of the speedbar forces me to use my instruments. I think this is a wonderful, stellar, development in combat simming. For one, it helps me appreciate the sheer art of the cockpits and the readability of the gauges, and secondly it makes me feel like I'm part of the aircraft. It's a step closer to feeling that I'm actually flying.
I'd be very sad to see this go. Personally speaking, obviously. Hm. I feel pretty strongly about this one!
And another thing! Surely the speedbar kills immersion at least as much as the "icons on" switch. In fact, I'd argue that the "icons on" switch is more justifiable because it deals with an inherent lack of realism in computer sims (difficulty in spotting, identifying and tracking other aircraft).
As for the compass - learn to read the compass! (And yep, I fly spits and hurris almost exclusively.) And with the channel map, working out which direction is north and south and east and west really isn't that hard.