Well, the idea is far from bad. But: I don't like the colour of the interface. That ochre is a bit ... I don't know ... off-putting. Then, it would be nice to have an ability to use the old style interface. I see no way to turn off parts of material editor here, either - maybe I want to increase the size of the preview and don't want to have mapping modes on screen. And as adh3d said, where are the new features? Displacement, glow, luminance, environment... Also, it's okay to use increments in font sizes, but not in elements of a texture. Why 100 and 75 for diffusion, but not 83? See what I mean?

-- erlik