Now if these are okay, some edits need to be made to hud_gauages.tbl to alter the position of some text strings (see the "DMG" in the targeting window) ... which TBP does not have.2
If TBP does not have DMG, can you just change this to " "?
To clarify: TBP does not have hud_gauges.tbl (and so falls back to the FS2 retail defaults for positions of HUD elements). If it had, it would be trivial to adjust the position of the text strings that currently look a bit off position.
But if a hud_gauges.tbl were introduced, it would be backbone to do additional changes, such as a longer escort and directives list (which was in Zathras at one point) and improved scaling of the HUD for high resolutions.
Also, having a hud_gauges.tbl would provide a frame work for custom HUD gauges -
somebody might want to take advantage of that 
1 - Can we use this opportunity to include wookiejedi's custom wingmen gauge by default?
2 - Can we use this opportunity to include Axem's message box gauge by default?
Hm, from looking at the links I don't think I like these changes...
Case for 1:
wookiejedi's scripted gauge gets the entire name of wing and displays it, instead of the usual first 3 letters:

(its an older WIP shot, so it is not perfection - both in terms of position and brightness compared to the rest of the HUD)
This is a big boon for campaigns with non-standard wing names, like my
Drums of War. Additionally the gauge provides more detailed information. Some adjustments need to be made because the non-retail "gunship"-type exists in TBP.
Case for 2:
Axem's message box provides a much better visual indicator that a message has been recieved; say nothing about improving readability of the message itself. In campaigns that don't have voice acting, curcial messages being missed is long-standing problem (the comm-beep can only take so far), which gets worse with increasing resolution pushing the 2-3 lines on top of the screen further into the territory of the peripheral vision, which is an issue to not a small number of people.
It's position can be adjusted ... BP has it between radar and reticle, BtA has it in the top left corner, I like to put it between the damage report and the reticle (that I have not added it to
Drums of War is because of the absence of hud_gauges.tbl - neat, how that comes back around

).