'Reduce Motion' in iOS 7.0.3 is a big improvement.
I disagree, I don't want the parallax or the bouncy text messages, but I quite liked the zooming in and out of folders and apps. It helps give me a sense of depth and location of where I am in the OS.
Why does it have to be all or nothing? Do they think their users can't deal with a few extra options to make the settings more granular?
There should be separate toggle options for the following motion effects
1. Background image parallax
2. Folder/app zoom when opening/closing
3. Bouncy text messages.
It makes me sad that I have to turn motion back on in order to get folder zoom, which means the silly parallax effect is probably eating more of my battery now
And there's still no option to turn off bouncy text messages.
I'm glad they've updated the bold text setting though, the low contrast fonts and light line weights are one of the main reasons I've not upgraded my Mom yet, the readability of many of the stock apps and phone features really isn't great stock in comparison to iOS6 if you've not got great eye sight or need glasses to read text on your phone.