I dont think I'd like one on the bottom and one up the side, It would be confusing a simpler way might be to just to add a second layer to the already installed one? that way you would still have the option to have it either at the bottom or at the side....
All you'd have to do is use F1, F2, etc for the top bar and 1,2, etc for the bottom bar. Yes you can use both for the current one but it could be changed:)
Also on the item bar you should have a lock so that you dont accidently use your items I hate that:) then unlock it when you need to use them:)
that aside we do need more space, good suggestion:)