Well, you know, it takes up about 25 horixontal pixels on a 128 horizontal pixel display. That's nearly one-fifth of the horizontal screen space for something that I can't imagine anyone really cares enough about to want to see on that screen.

At the very least, put it on the lower line, where there's almost always going to be enough space, even with two time displays and the playlist number indicator. The play/pause icon might need to obscure it temporarily while it's displaying.

Even better, give us a user-formattable display.