Hmm, I'd still simplify the general layout, here's my two cents for stirring up the conversation.

As in, why there should be extra indicator for TX when the on/off icon could manage the same thing

I did a quick mockup in Inkscape with Meego building blocks, didn't care for the media player width at the moment (but you'll get the general idea) Maybe it could be more maemo-ish but here goes nothing:



SVG also attached.