http://www.windowsphone7series.com/ Click on the phone for the video demo and watch the first segment. You can swipe to get your full list of apps.
That is pretty bad IMO.
If that swipe direction is occupied for getting to your apps list then I must say FAIL.
They have either removed the option of swiping left or right for browsing through pictures in any specific application.
Or they have made an extra unnecessary step to get to my applications.
No matter what it's pretty bad. But of course there might be details I don't know.