I think the new saving throw requirement is a good addition to the spell. However, since it now specifically targets spells that use V, S, or M components, it's become a much less useful spell for players. Most monsters cast spells without components, so those spells will be uncounterable. Most of the "spells" used by NPCs are not spells at all, and are thus uncounterable. This reduces the potential use to other PCs and NPC utility spells, which seems rather pointless.
But only being able to counterspell V, S and/or M component spells makes sense. It is logical in the game world and removes the meta knowledge.
DMs I played with used this part already as a house rule. That's why the subtle spell metamagic is actually meaningful.
I would also add that you need to counterspell a spell, before you see the effect.
It is implied in the 2014 spell description (you attempt to interrupt a creature in the process of casting a spell) but rarley used that way. Because what that means is, that in order to counterspell by the 2014 Version, you need to counter the spell before it is announced what spell it actually is.
So ingame it would look like this:
"Evil McEvilface the Wizard of Evil starts to cast a spell. He takes a tiny Ball of bat guano and some sulfur out of his component pouch, starting and chant, moving his fingers in an intricate pattern!"
"Counterspell!"
"You interrupt the spell."
What is actually wrong play by the 2014 Version.
"Evil McEvilface the Wizard of Evil is casting fireball."
"Counterspell!"
Of course if you are doing it the second way it is no fun and you remove the biggest use case of subtle spell metamagic.