I don't think restructuring the profile page is a huge job, it's mostly re-shuffling the HTML output. But hey, you're the boss
Regarding which options to include, here's my vote:
 Show smilies as icons
 Show images in posts
 Show avatars.
 Show user signatures
. . . .  Show images in signatures
 Open links in new window.
Modern browsers like Mozilla and Opera are all about placing more control of the browsing experience into the hands of users. With respect to opening new windows, these browsers provide several techniques for doing so (context menu, shift- or control-click, etc.) I'd suggest removing this option (and setting links to open in the same window in the PHP code). That lets the user control the opening of new windows on a per-click basis using their browser's capabilities.