The bad:
Due to this being a beta, a few things are still WIP. Avatar awards and avatar marketplace items don't show up and party chat is obviously not working. Good thing is, these will all be working again when the official dashboard rolls out, so no biggie. baww, I can't wear my Sonic Adventure shoes!
Indie games that rely on avatars won't launch, however I'm guessing this is a beta thing and it will be ironed out. I tried Avatar Snowball Fight and Avatar Golf, no go. However SASASR plays and features the old school avatars still.
The good:
New intro screen is brighter and quieter. I hated how the old intro had this loud "WHeeeoooWHUM!" which was way too loud, especially when starting up with the volume at normal levels. New intro is more discreet, so no waking the neighbors.
The flat panels are way better. Information is easier to read and sub menus for the game marketplace are slicker. Everything is faster. Pushing the guide button brings up the guide faster than before, both in-game and at the home screen. Bumpers allow for scrolling through menus, hold either bumper and the items shuffle to the left or right.
Sound effects are all tweaked and are softer. Shuffling through games won't give you a headache.
The great:
ESPN is very cool. I'm not big into sports, but I enjoy baseball and golf. The whole interface is very snazzy. VIdeos play before you select them, so you can preview within the menu. VIdeo quality for HD sports is great.
Netflix is much improved. The ability to live search for films and shows makes things so much easier. WIthin minutes I previewed all the Law & Order seasons and added what we haven't watched. I was also able to add shows that are on DVD to my queue. Way better than the official Netflix site.
Based on ESPN and Netflix, I can see that Hulu Plus will be an awesome addition come next year.
Overall, it's a good update. Thumbs up from me.