I'm liking the new design ...

You're not losing screen real estate with the login now moved to the bar at the top of the screen; and I find the "blocks" of blogs more enticing to click on than the former text style of links.

I'm looking at it in a standard 4:3, 1024x768 monitor so that may be affecting the sidebar layout, which I find to be a little "off" but after logging into the site it "fits" better. It might be the layout, or the choice of fonts sizes ... or it could just be me ;)

The random block in the footer area is a nice touch to promote their own sites/apps as in the case of WordPress.tv and the WordPress iPhone app, its not obtrusive and fits the design well.