Having made characters with the new system, there are parts I like, but there are parts I really really do not. One of the things I do not like is the overabundance of feats for everything. The races seem like they got dissected with a bunch of their benefits tossed in a pile, and you get told to pick one. Half-Elf and Half-Orc feel like they suffered the worst for it, since those very races are feats of their own. The classes seem a little better, but they too feel like they got chopped apart. Don't get me wrong, I like some of the idea, so that none of the classes are 'generic paladin' or 'generic fighter' but I feel they have really done too much. We're giving it a go down in the sandbox, so I should have more of a feel for it later, but right now I can honestly say I am not excited, or overly eager to change.
I do like the way they are doing the point buy, except I think they may have overpowered that a bit, or I'm reading the rules wrong.