I have to say that my point of view on the SEQ DPS system probably comes the fact that I don't really care all that much about absolute efficiency. After all I've been playing 1 character since Feburary 1999 and I'm still not 65 yet (just hit 62).
I just want to know that I am contributing as muc has I possibly can based on Previous experience with my person DPS. Also there is a level of one-up'smanship between myself and the rest of my groupmates. So added complexity really wouldn't gain me anything. The group I'm usually a part of seems very much overpowered for the content we are presented with anyway. I really wouldn't want to be anymore efficient at it...
About "Fixing" the SEQ Combat window. I'd like to be able to remove a selection of mobs (or mob) from the list, and some method of sorting combat would be nice. A wish of mine would be to have a graphical representation of DPS