I hate it slightly less than the previous version. I mean, at least they had someone slightly intelligent working on the design this time and organised the different categories better, made the panels cover more of the screen (while making some panels larger and some smaller which makes no damn sense) and the pin thingy seems interesting I guess.
Of course they didn't change anything major about the handicap they had to inflict on the interface to incorporate kinect functionality properly which I will never forgive Microsoft for. Not to mention that advertisements are still everywhere and playing games (you know, the main function of the machine) doesn't seem to actually be the main purpose when you look at the main menu.
Then again, I don't really use my xbox for anything other than actually playing games, talking to friends or playing games while talking to friends so it has no real impact on me. On average I spend about ten seconds looking at the home screen before I press the play button. So I couldn't care less what they do with it honestly.
TL;DR: They fixed some minor stuff, but it's still crap. Not that it really matters to me.