I don’t recall what the old interface looked like, but the new interface looks amazing and makes heavy use of the CoverFlow technology, in a very good way. The ability to use it without a PC is also a great feature, and it’s more power efficient that way.
The new movie rentals service just makes it that much better too. Add that to the fact that when you purchase TV shows, Music, or Movies from your Apple TV, if you have connected a computer to it, it will automatically sync those to your computer for you and you have an even more convenient setup than before.
Then the access to Flickr, .Mac, and YouTube makes it a really nice system for those that usually spend hours on their computer browsing those site, I know that I personally might not have this crook in my neck if I could have watched all those hours of YouTube videos from my TV. Oh yeah, and did I mention how nice the $70 price drop is? That makes the Apple TV $229, and for those of you that already own one, there is a free software update that will net you access to all these new features.