The current notation has been in use for hundreds of years because it works. The notes are large, bold, and easy to recognize and also easy to write. Memorizing GBDFA, EGBDF, ACEG, and FACE is not that difficult.
This new notation has many egregious flaws. Removing the key signature is one of them. Not only does the key signature allow for instant recognition of the pitch and tones used and a general idea of what the piece should sound like, but it also makes writing sheets that much easier for arrangers and composers.
Second, who thought it was a good idea to replace the accidental signs with squiggly marks? A huge step down in usability, I'm afraid. Maybe in sevenths and chords with very close note spacing, but unless you're playing Death Waltz, it is not a problem (usually).
Also, the Consumer Reports-esque notes are also distracting and don't serve any purpose. If I saw what is an "E" on this note, I would play it for 4 beats -- that is, assuming that this is in x/4 time. It's more confusing for longtime music readers than musicians, but it would still throw off many, I'd guess. At any rate, however, if you can't memorize the staff lines and spaces, you aren't a musician. Period.
The uselessness of this notation is compounded by the fact that practically no instructor will be willing to give up a notation that has been in use their entire life, and also for centuries.
Do I see this being successful? Maybe, in small circles (no pun intended). But the harsh truth is that the current notation is easier to write, easier to read, and more efficient.
Case closed.