Marc Sasso Rocks. He's done some fantastic stuff. IMO, this isn't one of his better pics unfortunately. That glowy bit around the elf just jars too much. Bit of a shame really.
As far as the mechanical changes, well, there are a few things to remember. The original Death Knight was envisioned as a bad ass. But, in 1e, monsters had a great deal of difficulty being bad assed in melee. They just didn't do enough damage. So, to make the DK bad assed, they gave him a slew of magical abilities that don't really tie into the idea of an undead knight all that well (after all, why is a knight chucking fireballs really?).
Now, with new mechanics, monsters can be very bad assed in melee and, from the sounds of it, they are going to make him a couple of steps higher on the food chain than most. So, you don't need walls of ice and fireballs from the fingertips anymore.
That's my take anyway.