It's a bit convoluted at first, especially since there are some features you have to manually turn on now, like displaying lists of "networks" on a profile, not to mention the fact that your personal information (interests, contact info, etc.) is now on a separate tab from your "social" information (wall posts, etc.) Plus, your profile picture is now on the right side of the page--shocking! And I'm really not sure how it makes the Facebook experience easier.
But it hides those "Which Dictator Are You?" eyesore apps, so I suppose it's doing its job. Developers, meanwhile, are undoubtedly going to be concerned about what this will do for the viral spread of their creations.
What do you think? Let me know in the comments.
UPDATE: Looks like Facebook locked this up a bit later on Monday. Readers say you must now have a specific developer application installed to access the new profile design.