Honestly, you probably don't want to. The touchflo animation is not good. There are rumors that HTC will update the video drivers on the phones sometime in '08 which will make it better sure, but its just not there. Secondly, there's a memory issue. As you will (hopefully) read, there's a memory management "feature" that we all deal with on a constant basis. The holy grail would be to increase the volatile ram on the mogul so you could do whatever you wanted, but we're not there and may never be there.
That being said, you have a couple of options. Go with Torx:
http://forum.ppcgeeks.com/showthread.php?t=11507 or go with SPB Mobile Shell 2. One will allow you to customize but requires wisbar advance and the other has great animations that resemble a cube style but not customizable. Unfortunately, they're both shareware which means you'll need to pay at some point.
The only truly free option is to use Ultimate Launch, but it does have a pretty steep learning curve and there's a bug that won't let you permanently register the app so every now and then (re: 5 minutes) you'll need to go into the config just to not see the "not activated" logo on it.
The short answer is find out yourself what you really want and how to do it. There's more than enough information on these forums (and xda-developers) to tell you what you need. Good luck.