I played with this for a while. After installing Loki and setting it up with everything I needed (including nVidia driver and powertop, both of wich are a constant source of messages), here's my /etc/default/grub:
# If you change this file, run 'update-grub' afterwards to update
# For full documentation of the options in this file, see:
# info -f grub -n 'Simple configuration'
GRUB_DISTRIBUTOR=lsb_release -i -s 2> /dev/null || echo Debian
GRUB_CMDLINE_LINUX_DEFAULT="quiet splash loglevel=0 rd.systemd.show_status=auto rd.udev.log-priority=0 vt.global_cursor_default=0"
# Uncomment to enable BadRAM filtering, modify to suit your needs
# This works with Linux (no patch required) and with any kernel that obtains
# the memory map information from GRUB (GNU Mach, kernel of FreeBSD ...)
# Uncomment to disable graphical terminal (grub-pc only)
# The resolution used on graphical terminal
# note that you can use only modes which your graphic card supports via VBE
# you can see them in real GRUB with the commandvbeinfo'
# Uncomment if you don't want GRUB to pass "root=UUID=xxx" parameter to Linux
# Uncomment to disable generation of recovery mode menu entries
# Uncomment to get a beep at grub start
#GRUB_INIT_TUNE="480 440 1"
Setting vt.global_cursor=0 will hide the blinking cursor.
Make sure to set GRUB_GFXMODE to your resolution values.
EDIT: Works best with EFI enabled.
The result: elementary logo all the way to the desktop.