John -
You are correct. The instruments can be moved, resized and displayed on either the Nav or EFIS screen. You can also create and save numerous Instrument Layout templates, adding more or less instruments per template depending on how much Nav/EFIS screen you want to see. I have created several templates, starting with one layout then adding layers of instruments, storing each layer under a different name. The result is starting with a basic EFIS/NAV screen with no instruments and saving (EFIS/NAV), adding airspeed/altitude/compass instruments and saving under a different name (EFIS/NAV 1), then adding waypoint/final destination instruments and saving (EFIS/NAV 2), etc. I've also created templates using the same instruments but changing them to display as Large, using the same pattern described (EFIS/NAV Large, EFIS/NAV Large 1, etc.) You can also create templates displaying only the Nav full-screen, with instruments added.
I was hoping the upcoming iFly tutorial video would demonstrate this, as well as giving in-depth explanations on each instrument's function.
Walter has stated that Brian is working on developing the EFIS for full-screen display on the 740 hardware. When that happens, I can see a need for having 2 iFly 740's in the cockpit, 1 for displaying the Sectional full-screen and another for displaying EFIS full-screen. You could then have Instrument Layouts that were specific for each display (Waypoint/Bearing info on the Sectional, Airspeed/Altitude/Compass info on the EFIS, etc). By having all your custom templates stored in each 740, you could build a totally redundant system.
Andre'