I don't think you can disable the graph completely, but you can manually adjust the relative sizes of the chat tabs and the graph, by moving your mouse cursor between them (a horizontal line will appear) and moving the line upwards.
Seeks graph & ChatBox
For the chatbox, if you move your cursor between main chat and game chat, an arrow will appear with pointers on either end. When that appears, hold down your mouse click and drag down to make the game chat bigger, or up to make main hall chat bigger. (as shown on this image) http://i.imgur.com/X2DQA.png
For Challenges list;
If you can use the Settings link (top right of the page in live premium, and under the chat area in live basic) then click on Tabs. Check the box you want to show on your main tabs area, games & players / chatrooms / friends etc.

Its your choice which ones to check, which ones you want to see on your tabs.
(remember to save changes on the box below it and they will always show when you log in.
You should see this

The challenges list is on the Seek tab
Hi - I NEVER use the seeks graph which appears in top right of my screen in live chess, above the chat box. -
My Question is two-part: a). How can I hide the graph, hopefully forever? b). Will i now be able to use the space created to expand the chatbox - currently i can only see 1 to 3 lines at a time - i end up scrolling back for ages.
many thanks for reading
psiclist