a good interface should not require the user to spend most of their time rearranging it to suit current needs. one thing ive hated were those collapsable menues that hid half the stuff in them untill you clicked the ****ing arrows, as seen in ms office, i ****ing hate **** like that, they annoy me to hell and back. the second picture sort of looks like that.
i use tonnes of paths and layers and have them occupying a massive bank on the side of my screen, some of my textures have over a hundred layers. so the layers window i usually have take up half the vertical space screen while being as narrow as it will go. i alocate about half as much space to the paths list, which i usually move up to the top window, leaving the history in the middile, taking up the least space. my screen is full of stuff like that so as small as those things can be without making them contain less functionality, the better. max's scrolling side pane always satisfied me, usually being a drag and click operation, most stuff i do in photoshot is a 3 or 4 click operation.
one of my biggest nags about photoshop is the fact that they didnt embed the toolbars to the edges of the screen, floating them instead. while you can dock some of the side bar stuf up top, i never found this usefull, cept maybe sticking the info tab up near where the brushes are, because i might (rarely) need pixel colors or coordinates of the cursor. i really hate when the area im working on falls right under a floater and i have to move them around.
no matter how much i hate some of photoshops interface features, i really hate fred's sexp menus, which is probibly why i never bothered with fredding. im just really picky with my interfaces (see my joystick collection)
