I like the labels in the new Expose, but unfortunately they're necessary.
The whole shrinking large windows and expanding small ones was a really dumb move. Now I have to waste time reading the label on every Finder window instead of looking quickly for the one with the right size and shape.
But some neat freak at Apple who's more interested in how pretty his/her computer looks than how efficiently one can use it, decided that Expose wasn't tidy enough.
We shouldn't be surprised though. After all this is the company that thinks huge aluminum towers weighing close to 60 lb should take up gobs of space on people's desks so they can be admired instead of sitting solidly on the floor where they belong. For better or worse form always wins out over function at Apple.
Yes, the grid format makes it nearly unusable (at least on a 13" screen... maybe it works well on larger ones, I don't know). Yes Expose activates too quickly to be able to track where all of the windows on the screen are coming from and going to. My other main complaint is that it doesn't hide minimized windows of hidden applications. If I have two TextEdit windows open, and I minimize one of them and then hide the app, why on earth does that one minimized window still show up in Expose? It makes no sense at all.
With only a single minimized window it's not so annoying. But if I've got a huge number of image files or PDFs open and I have some of them minimized to get them out of the way temporarily, I *don't* want to see them in Expose when I hide the app. Expose windows are already hard enough to make out when there are no minimized windows taking up the bottom row. When there are minimized windows taking up the bottom row, it's even more unusable.