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I am a big fan of this feature and i would go farther. They might as well. It doesnt look like they have much to lose, and they absolutely have to do something to seperate this game from the wow/eq/daoc clone stigma. Immersion is the best way to do this.
Health and Stamina
Imagine if you didnt know exactly how much health and stamina you had. You would have an idea but wouldnt know the exact number. You can increase immersion this way as you no longer need to represent these attributes with numbers but rather graphical elements. I would use a little beating heart that beats faster graphically and when you get below 20% you get an audible and graphical indication of this. Like your heart is about to explode. For stamina i would have your character panting when they went below 20%, and a more labored attack cry on attacks. Far more immersive than sterile bars. Little things do count.
this would be a great diversion for players because the focus is off the numbers and micromanagement and is kept on the moment of the fight. The subtle cues would enhance gameplay substantially, especially in first person.
GW2 did conditions pretty good and i would extend that here with a different color screen border based on the specific condition. Its simple and is really effective. I would definitely have that. It doesnt have to be the whole screen, just the border.
Chat and equipment
Many people have access to a secondary monitor these days (i.e tablet) and there should be functionality to show these screens on the secondary monitor or tablet so they dont interfere with the game screen. You could have this as an option
Just some thoughts.