It's an improvement, but it's not perfect. It takes up too much space.
Also, Wizards have produced far too many products that have failed to implement it correctly. The AC breakdown is required, IMO, and yet is still missed out far too often. Some books have missed out LA where it really should have been present, while others have even missed out the number of hit dice ("Scourge of the Howling Horde", I'm looking at you - I don't need to know the type, but I certainly do need to know how many there are)! Also, if Power Attack and/or Combat Expertise is already figured into the stats, that needs to be recorded somewhere, including the amount of adjustment applied - my attrocious luck with attack rolls virtually demands that I undo the change, so I need to know how much change has been applied.
Basically, Wizards of the Coast should be able to do this right by now - they've had long enough.