Personally, I like it. The user interface looks real nice and I love the new "Install Game to Hard Drive" and the Netflix HD feature. I haven't tried 8-player party yet, but it sounds like fun.
I like the new interface and all of the features I really just have one gripe about it. The Spotlight "Channel" / Blade. I really wish you could disable it like you could the Welcome "Channel".
I like the Avatars and overall I would rate the experience 8/10.