Wow, that's amazing! Is the potential new spot on the other side of the room also near a window like that? You can definitely do some pruning, and use the cut-off pieces to create more plants if you want.

New growth from the stump usually comes from near where the cut is made, at a right angle to the trunk at first, then should curve upward, so keep that in mind in regard to what it will look like in a year, 2 yrs, and how soon you would want to cut it again.

To make more plants from the removed pieces, remove the leaves from the bottom part over a span that matches the height of the pot you'll use so that none of the leaves (or where the attach to the trunk) will end up under the soil. Then stick it in the pot, all the way to the bottom, so it's a stable as possible. You can put it in the pot with the stump, or another pot. If using another pot, try to use a soil that doesn't have fertilizer in it.

It would be fine to do the trim now. I would also encourage you to think about repotting it next summer.

There's a couple current discussions about these trees in house plants forum.

And this is excellent basic info:

http://forums2.gardenweb.com/discussions/1497307/ukeeping-u-them-looking-good

Great plant.

All he needs is a bigger pot and a taller house. If that's out of the question, do as Tiffany says.