I wanted to put that pic into one of the overhead-chat suggestion threads just to show how it can work ... uhm where are all the overhead chat suggestion threads?
Either search function is not working for real or I'm too stupid using it properly or threads are lost?
Anyway, just an example on how overhead can look as in Ryzom:
It adds much of immersion as it helps getting away from the chat box, people are very easy aware someone says something, main channel is encouraged and by that a kind of live in the world is encouraged. It should be an optional thing. It should work with bubbles as without bubbles (Wish did that) its more difficult to read in a 3D environment when names of others are shown too and align with a person. And it should be used with the same style of ellipsoid filter that decides wether you see the person as bubble or only in chat box. That helps very much in Ryzom to prevent crowding of the screen and cut of bubbles.