Hawk,
At first, I admit, something didn't feel right about it. But, after using the format for a week or so, it has grown on me. The compact, condensed feel of the forums make it more comfortable for viewing, and access to the essentials (User CP, Messages, Assistant, etc.) are much more convenient.
As a test, select one of the available skins and use it for a few days. Then, switch back to the default and see if you haven't changed your mind.