I have always liked the "radar" or relative object position indicator or what ever it is called ever since the original. Though it becomes less able to help the more populated it is.
A quick toggle to show only my target or hostiles might help. Perhaps even for cargo canisters and materials.
I can't think of a way to make it better unless you made it bigger by being able to zoom in. Then you could provide more data and perhaps selection abilities.
OH yeah. Can it interface with the stations and indicate the landing pad. We already have the tools when close, but a landing pad blip would be sweet. Plus the blip could have a shape to indicate orientation.
To a lesser extent of needfulness, could show a blip for entry to stations.