Make DS leaner by outsourcing field formatting features

Hi, decided to make new issue and link to this from several others across contrib land.

What if we could investigate some way of moving some current DS field stuff to separate modules on top of Field formatter settings (FFS)? It should make sense, DS would be easier to maintain, since there would be less code and FFS seems good foundation for exercises like that.

1. I was already suggesting removal of "List" formatter as there are modules with better functionality, for example Field Delimiter on top of FFS and even that falls short to Text formatter. If any movement starts in this direction, I would gladly write patch to move Text formatter on top of FFS.
2. "#" form element DS used to allow specific number of field values to display fall short of Field multiple limit as it allows finer control of limiting values.
3. There are initiatives for label formats too, like this one (no code yet) Field Label Format that will probably take care of number one reason why I discovered awesomeness of DS - possibility to remove colon character in field labels.

There is array of other modules that deal with field formatting - Fences, Custom Formatters and others not yet discovered.

I would propose to make some sort of cooperation to limit double work and efforts and am willing to contribute towards it. I am posting this here, since my subjective feeling is that DS should/could be leaner, smaller and have more focus on it's basic awesome feature - layouts for view modes. It should try to delegate and outsource tasks to other modules and FFS is good candidate for that.