How does one define memory hog? I run with embedded libraries and pitbull never goes above 1.5. Auctioneer (on my AH mule) runs at like 6!
Compared to other UFs that I'm currently looking at, it does take up more memory. But that's just me being picky. Anything over 1-2mb I consider a lot. As for Auctioneer, that's why I got rid of it a long time ago since I rarely play the AH game and already know the value of items I auction for the most part. :P
Here's what I've been fooling around with since I rebuilt my UI for 2.4. It started out as an experiment in low static memory and aside from a few visual enhancements, I think I've still succeeded in that respect.
Unfortunately I don't have any decent raid or recent combat shots, but you can get the idea of it all. My pet bar is attached to the left hand side of the console in an identical kgpanel to the rest (in a 4x2 button layout) and Omen is attached to the right. My player and target unitframes appear when I have a target or my health/mana are not full and numeric values appear when bars are not max/empty (with an exception of party health), or when moused over.