I hate it. - Although this may change as I get used to it.
The Bad
Lag has actually increased for me. I suspect some others too as I saw a bunch of players frozen mid-air in the middle of a zerg. There are times when it's a slide show but no loading screens. I don't have these problems even with ball groups.
The red tinge and blood rain is visually distracting. Similarly unpleasant to necrom green and red. I did see some nice pics of night time in cyro and that looked good. But the time I played, around midnight CET it was more of a distraction.
Gameplay - essentially whichever faction has the bigger numbers gets all the stuff. So much like battlegrounds the actually "game" is picking the faction with the most players. I'm not a fan of this.
Biggest disappointment - I can't play my way. I rely a lot on vampire invis. It's not an option. Yes, I know it's a 'test.' I have my doubts though.
Lots of glitches, some people's guild names were visible.
The Good
The stuck in combat bug is gone. That's awesome.
I'm able to kill more enemies with skill as they're not buffed to high heaven.
I'd like to say no ball groups is an upside but the massive zerg kind of limits that. So I'll say the lack of massive stacked buffs is kinda nice.
I'll try again tomorrow and see if anything changes.