I have outlined in red what I think should be eliminated or improved as it's either redundant, serves no purpose, or can be re-purposed for other uses.
Whenever there's a Hangout and it shows in stream, it shows the participants with their profile pictures and it also adds a list of their names right under. I think that the names don't need to be there because the profile pictures when hovered over with the mouse already shows a profile snippet with their name, location, and work.
I also think that names in comments should be in bold so as to make it easier to the eyes in differentiating names from comments. Also it also conforms to the way posts are formatted; names in bold followed by the date/time in smaller font in gray.
One more thing I'd like to add is the name in the Google bar. I think it should be eliminated because it's pretty redundant as the name is shown along with the email when the profile picture is clicked. That space is wasted (specially when the name is long) and can be used for other things in the future.