Apple just released the newest version of iTunes with some very welcome improvements. When you download version 11.0.3, your MiniPlayer will be getting a lovely new design in addition to a more compact way to view albums that come as multiple discs.
The MiniPlayer itself is relatively new, first appearing in iTunes 11, but now you'll be able to see both album artwork and the song's progress bar, which you will be able to adjust. Viewing multi-disc albums as one singular album and "performance improvements when searching and sorting large iTunes libraries" should also help make the overall iTunes experience far more pleasant. You can download the update now through your computer's Software Update. [9to5Mac]