Unless you suffer from bad eyesight, I can't think of many (any) phones where time / reception info / notifications were illegible. As far as screen area is concerned, it typically takes 1/15th to 1/20th of screen area, depending on size and resolution of the display. I don't even understand the purpose of the lock screen, or homescreen if you want to call it that. It does nothing except display information that a status bar would, except with no global visibility or access. It'd be an immense improvement if it were entirely abolished, a status bar implemented, and the pulley menu was then accessible from the main screen. The latter's only useful feature at the moment is to enable silent mode, whilst anything else can be accessed more quickly from app folders. It's also less pfaff to swipe up from the bottom to access the notification screen than look at the lock screen to see notifications, since you then have to do that anyway to actually access them.