Even though I kinda like the new approach,

Perhaps if the Padding around all of frames (div) was reduced from 20px to, say, 5px. This would provide more available area for the contents. Also, default the base font from 13 to 11.

The most annoying thing was that the default link on my desktop stopped working. I was receiving an error. I wasn't until I actually typed the www.LevelExtreme.com in the address bar that I realized the site had changed. Make the prior default page redirect to the new web address. Others may believe site is in trouble or is simply gone.

And, whats up with the threads being listed in the New Feed panel. Rather redundant, for they are visible in the tree-view panel already.