Started playing TESO last night and the lack of a mini-map was frustrating. However, after about two hours I started to love the lack of UI. I play WoW too and do my best to minimize clutter in that game, but there are times where my whole screen is filled with boxes that there is no immersion whatsoever.
Just keep playing, you'll get used to it over time.
On a side note, I love running into random quests while exploring, so much fun!
1.) No - there is an addon for this if you need it. I wouldn't mind if it was optional but I LOVE the compas and never really find myself lost. It keeps my eyes in the world /gasp