Hmm, cunning, Apple: change the smaller font size to 9pt so my display looks disgusting until I turn the smoothing down...
Okay, further thoughts now I'm ripping a CD:
Tracks end up as m4a files, which is more marketable than aac (sounds a bit more like mp3), and represent roughly a 2/3 saving in file-size.
The new buttons make sense: they're the same style as Safari (though Quicktime Player hasn't changed: at least my Pro registration hasn't gone south), but why are all the ones at the bottom of the window (which is starting to look cluttered) exactly the same as before? Looks rather bitty, and the artwork button is a less-than-intuitive icon.
Hate the green note in the application icon...
Oh, and Amazon's servers are going to take a huge hit from people "downloading" cover artwork. Nice feature, not sure how much use I'll give it.
Definite double-plus-good to the hugely reduced processor overhead (until you turn visuals on, anyway), and the rip speed is pretty darn good.
Oh, and if I rip everything as AAC (which I think I'll probably want to do, just to cram more tunes in), it's going to make life very, very interesting when I want to DJ in Traktor... at least until such time as they make that app AAC-capable