For display-only purposes, I can't think of a reason it shouldn't be POSSIBLE, but that would be a third party app, there's nothing native. Having said this, I'm not familiar with programming for the Android OS, so it's possible there ARE restrictions that prevent dynamic background display of system info.
I've moved away from using a flashy clock widget since the time is always in the tray anyway. I set my lock screen to display weather (which usually can't find the weather) and I found a nice 1x1 battery widget, freeing up a lot of room for other things. Having said that, I use a 4x1 calendar widget called Smooth Calendar, so that + the battery widget puts me back in the same place you are, but Smooth Cal shows upcoming calendar events as well as the date, so I feel it "pays for itself" for the room it takes.
Sent from my HTC PH39100 using Android Central Forums