Doesn't look bad at all, the horns aren't great but not too bad, from the teaser shot I thought they were the start of a weird nose a la the McLaren which I think looks awful, so thank god it wasn't that. The wing/nose connection is easily the best on the grid, but the steep nose still looks a little odd.
Are there any good comparisons up yet comparing different cars side by side? Is it just me or does the Merc look like a very busy design, lots of bits sticking out all over, more obvious due to paint job than others or more bits sticking out all over the place?