I go back and forth on this and though I have heard mostly positive things, I have heard some negative ones as well. Like most things, depends on the group.
From a design point I mostly love it (I don't like that it doesn't include reactions), but I also love having the independent move action in 5e. I also don't really like the complexity of reducing efficiency with more actions, but then that is the incentive for not just standing there and waking away. I am actively work on some house rules and this rule, or a version of it, is one I am currently struggling with. So,
@payn: what do you like about it.