I believe that an evolution in terms of UI and HUD would be really interesting. Being stuck to the same features and terms in RPGs is stagnation. I don't propose to create whole new mechanics. Of course there should be all of the elements in the game that an RPG, especially one in the tradition of Baldur's Gate, needs but I think for immersion it would be great if those mechanics could be mostly hidden. Think more of a virtual world and less of a game.
Floating numbers, names above heads, hit point bars etc. I think all of those are mechanics we could do away with in modern games without sacrificing a really deep RPG-experience. Cluttering the screen with windows, bars, icons etc. drives away the focus from the actual experience of being in another world. If I look onto a screen and just see the landscape etc. it is simply much more immersive than staring on a HUD or UI as this rips me out of the feeling of being in this world.
Maybe this comes from playing MMORPGs in which the focus seems to be much more on too many windows, numbers, texts on the screen instead of the world and what is going on around you. The game experience should always be the focus and not some numbers or bars or windows. Therefore I think a system like in Ultima VII would be great.