I believe that some great redo of the Chinese Theater has to be in the works in the next 5 years or so (or sooner).
1) It requires too many cast members. While I love having a personal cast member tour guide as Living with the Land used to, Disney can't staff enough people and this is an easy place to cut heads with an automated track and audio sequence
2) It needs an updating, the ride hasn't changed much since 1989 and 20 years is a long-time for any ride. Have they done anything other than edit the movie clips at the end?
3) It's too nice of a street front to be hidden forver (that's just my opinion I guess).
The hat, for whatever reason, doesn't bother me. I think of Disney's Hollywood and I think of Mickey Mouse. It makes sense to me. I think it's too bad it is where it is and blocks what it does, but we all know that's for a reason.
I like the way the hat is designed, and I think it'd make a great ticket booth or information area at the front of the park. Imagine it at the TTC, for example.
In the center of the Studios, it just blocks everything. That area of the park used to be very calming, despite being at the center of things, because of the relatively open views in each direction. Now the hat just blocks it all. It also looks ridiculous when viewed from the upper level of the LMA theater.
As for GMR, I agree with JWG's comments. It needs updating, and will probably lose the live cast member guide when it happens, although I hope it doesn't. Were I writing plans for the update, I'd keep Marry Poppins, Casablanca, Indy, and Wizard of Oz, add something besides fans and a movie projection to the Fantasia scene (maybe some audio-animatronic brooms seeming to toss water on the vehicle), and swap out the rest of the scenes. Adding something from Star Wars seems obvious (I'd go with Luke and Leia swinging across the room overhead, followed by Darth Vader taking out Obi-Wan). Others are less obvious, but Titanic comes to mind (who has the rights to that, anyways?), as does Gone with the Wind (again, don't know if Disney has those rights or could get them), 20,000 Leagues, etc.
I hope that a big update of GMR is in the works for the Studios 25th anniversary.