I know that this can be accomplished by making a really small map window, but to be honest, this tends to be clunky as there's no way that I know of, to get rid of all of the UI elements on the Map Window to really do what I want this to do.
What I'd like, is to have an optional Mini-map window that can be brought up, that has no UI elements present, that the user could situate wherever they want on-screen that is meant to be displayed at all times.
All modern MMORPGs have them, that I've seen. They really help with navigation. And should you need a larger or more detailed map, the regular map can be accessed by normal means.
Our current map can be used as a sort of mini-map, but like I said, the huge border around it that contains all of the UI elements that manipulate it tends to eat up screen space.
So maybe invent a new UI element that we can open if we want, that basically does the same thing as Map, but has no UI elements/border around it except Zoom in/Zoom Out and maybe a Position number (but then we wouldn't really need Position, since the Compass already can already display that if the option is enabled).