Mark, thanks for the feedback.
re: 1. Yes, naming is something that we can discuss. I should add that I am planning on having the system default dashboard default to being just like the current My Moodle page, so if the admins leave the default alone, users should not experience much cognitive dissonance.
re: 2. The "Main profile page" is the new stuff. The "View Profile" is the "old" Moodle profile. (In the "Martin's My Moodle Mockups.png" mockup, the "Main profile page" corresponds to the middle image, and the "View Profile" corresponds to the image on the right.) We will need to figure out how to distinguish these two pages, and make things less confusing.
re: 3. course/assignment hiding is not currently on my personal roadmap, but Martin said that he wants to get it into 2.0, so either I'll end up doing it, or someone else will.
re: 4. I think we'll have to start a forum discussion on this issue.
re: 5. Yes, I want to keep it easy to use, but flexible enough to do what people want to do with it. The bulk of the code is actually fairly simple – most of the complexity is handled already by the new page and block libraries. (That said, My Moodle will probably require some (minor) changes to those libraries in order to work properly.)