Temporary solution how to customize registration form until 1.1 arrives, FYI and my own reference:
Changed this line in function bp_show_register_page() in functions.php in my template:
require ( BP_PLUGIN_DIR . '/bp-core/bp-core-signup.php' );
to
require ( 'custom-signup.php' );
Copied bp-core-signup.php to the template folder, renamed to custom-signup.php.
Go customize! 
Unfortunately the custom fields are generated by yet another core function:
do_action( 'signup_extra_fields', $errors );
This action is associated with the function xprofile_add_signup_fields in bp-xprofile/bp-xprofile-signup.php.
Copied the function to bp-custom.php, renamed action and function to custom_signup_extra_fields and custom_xprofile_add_signup_fields.
Used this CSS trick to hide the avatar upload. Will use the same trick to hide the username field.
See https://buddypress.org/forums/topic/faq-how-to-code-snippets-and-solutions, “How to hide selected profile fields” and “How to show secondary profile fields while hiding the “Base” profile fields in a user profile”.
These should get you started and this has been discussed elsewhere on the forums, so do a search.
Actually it’s pretty easy to see what profile fields are called in the DB – Check the wp_bp_xprofile_fields table and you’ll have an ID associated with each field which you should be able to use to call them.
it appears the profile fields are being named rather generically…
i.e.
field_1
(first name)
field_2
(xprofile field #1)
field_3
(xprofile field #2)
I need a way to manually call/insert these values… and Im assuming they aren’t named “field_3” in the database
I was hoping if i add an extra field and call it “Referred by” that the DB table name would be “referred_by”
this this a correct presumption?
I have little knowledge of functions and this code has ALOT of them….
You’ll have to modify the member theme functions that display the fields in the profile. That gets generated in: /buddypress-member/profile/profile-loop.php
by the function: bp_the_profile_field_value() in /mu-plugins/bp-xprofile/bp-xprofile-templatetags.php
There’s a filter in there that you can hook: echo apply_filters( ‘bp_the_profile_field_value’, $field->data->value, $field->type, $field->id );
So that you can detect these specific fields and change what gets generated by bp.
