First reaction: "Do Not Want ><"

It does look a lot more like G+, latest G-Doc and so on, so it feels like a natural evolution of it, but I don't like that suddenly everything became so big and sparse. I want to manage my emails and last time I checked I had a buttload of them, don't need something that makes me scroll x3 more than I already have now... Sure it looks prettier but is it more usable? I wouldn't bet on that.

Though I guess it's going to be the same as any redesign people don't like - lots of complaints and everyone will forget about it sooner rather than later.....