I'm using Gnome Classic , Ubuntu 11.04. The icon spacing for the indicator applet icons is just too large. Is it me or has this happened to someone else? Has anyone found a fix? Back in 10.10, a ppa , ppa:m0sia i think, had packages that corrected this design sore. There are no packages there for Natty atm.
Unfortunately, GConf doesn't have any entries for indicator applet spacing and currently m0sia's PPA - as you've noticed - is only for Maverick. You could tick yourself off at the 100 Papercuts bug as affected.
Maybe, like Rocko (Post #4), you could agree with him and suggest to use GConf entries?
Fingers crossed that they at least enable a gconf-editor setting for applet spacing in Ubuntu Oneiric Ocelot.
Also, if you're keen... you can try out this guide to compiling your own indicator-applet with a fix for spacing.
Be warned though, the same person who posted the how to, also noted: