I understand that reason is values which need many characters to show, like time is, and it make it impossible to use bigger font for numbers. One solution could be possibility to split display to three datafield where one use half display and would be full width and rest two fields use another half of display together. Then yo could use width field for time and smaler two fields for some shorter data values like hrm of or lapcount etc. It is not easy to explaine what I mean, but hopefully picture tell more.
Like this:
_____________________
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Also it would be good to think if data field subjects could be writed vertically and that way not consume too much space which would be more usable for bigger font of actual value.
Rookie
I agree with you: split screen name take too much place. Could we use logo or symbol instead to save space? ex:
Time of the day could be replace with a little clock symbol,
Running time, a little moving running shoe or running shoes with wings,
Heartrate, a little bumping heart, etc. Those logo could be insert in the upper left of each split screen. It would help to give more room for data in a quarter split screen or third split screen as show in Rookies' graph.
But personally I like the way it is right now for running. I don't think quarter split screen is suitable for running as your watch is moving much and make hard to catch data rapidly. I often set my screen to 3 divisions as 2 divisions do not contains enough data and with 4 divisions, the data are too small.
The only thing I would like would be to have the ability to move splitting lines up and down:

- image of GH watch taken from
gpspassion.comSo I could set equal space between every division when there is three divisions:
Running_____
Speed_______
Distance_____
Or even give more importance to first division instead of the default middle one:
Running___
Speed_______
Distance_____