I'm totally happy with it. 4 editions in three freaking decades is pretty reasonable, if you ask me. Hell, freaking Talislanta's in its fifth edition, and that one's only been around for two (hands up, who remembers the "NO ELVES!" ad campaign in Dragon?).
The focus on Internet-based tools isn't any kind of problem, as my whole life is focused on Internet-based tools. Even my face-to-face games have mailing lists and wikis set up to support them. Plus, the more graphical approach of a lot of that stuff might help to drag back players who've been lured away by MMORPGs (my wife, for example).
So far, it sounds like the changes to the class system don't really go far enough for my taste, but since 4E is to be OGL system--and that was seriously my main concern with the whole thing--I know there will be plenty of great variants coming from third parties.
So, yeah, I'm pretty happy, at the moment. I'm just wondering how I'll be able to break the news to my gaming group, who, by the new PHB's release, will only have been playing D&D for about a year.