It seems to me Sony have listened to what the PS3 owners wanted to see and improved on the design. I do wonder how much smaller it could have been without an internal PSU though, something which I'm not at all bothered about having sitting near the plug.
All you PS3 owners were complaining how easily scratched the unit gets and how much dust it picks up, they've solved the problem now and you still moan?! It looks pretty similar to the normal PS3, I don't see what problem people have with the looks, especially since it has no bearing on the functionality of the machine. Smaller is better, as is less power consumption!
The price is getting more reasonable, but it's still more than £200 here in the UK, and that seems to be uncompetitive in my eyes, plus the games cost a fortune, I'm used to cheap PC versions now. Last console I had was a PS2, and the games weren't exactly cheap, but they were cheaper than PS3. If it were less than £200 I'd consider it if I didn't already have a gaming PC and a blu-ray player, it would be a well-priced alternative.