There is a "small" clock on the top "content" display. In a future release - you will be able to layout the content as you desire (thus not covering up the "big" clock/date). My personal opinion is a lot of screen is wasted on a huge clock. I would rather see content. Personal opinion aside, I understand everyone likes it they way the like it - so look for a release with the layout option
Crasher - You can disable your SMS Preview on your passcode settings if you don't want to see them