I don't have a widescreen TV, so the position of the HUD is fine for me. It is larger than it needs to be, IMO (and larger than it was in D2:ED). I do not find that it blocks the view, but I wouldn't mind the option to fade or shrink the hotkey sections, at least. Apparently some people in D2:ED confused the skill icons they had assigned, or couldn't tell when the graphic changed to indicate the cooldown time.
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