The bottom bar is considered a permanent screen decoration in the same way that capacitive home/menu/etc. buttons below the touchscreen on Android phones are so there is no option to remove the bar, but there is a call that some apps use to darken the bar like some video players so it not intrusive, but you still lose that part of the screen.
There are hacks and apps for rooted HC that can hide the bar. Not sure you can recover the screen size or just darken the bar. Because the bar is at the system level, such a hack might cause issues with a lot of apps. its the same for all devices running honeycomb.
Days of free media are almost over as the biggies look for more revenue streaming from your wallet... ...Don't believe me? Take a look at all the flagship models now being sold WITHOUT microSD card slots.