Intergrate the chat into the UI, and make the FoV wider and more zoomed out to compensate.
Would give it a much more sleek design, then maybe give custom clients the ability to resize, move, hide lock the chat as they see fit like the mini map.
PS: I know you seem to say that you wouldnt go for it, animals and players etc on the mini map is what gives huge advantage to custom clients.
Most of all for those of us who are in the darkness, with rats on the loose.