I think, it's a good thing D&D has tried a new look, and I suspect a lot of the "bring-back-the-1E-look"-is merely nostalgic. While I appreciate the humor that was lacking in most 2E artwork, the quality of the artwork was terrible, IMHO.
I welcomed the change from what has seems to have become the traditional look of D&D — Elmore, Valejo — the popularity of which had made D&D-artwork a cliche, or in the worst cases a pastiche. It was becoming anachronistic and the glamorous style was often too close to cheesecake which, I think, hampered the products in the marketplace.
That said, I wasn't completely swayed by the style of the new look either. I think the rougher edges is good, and dungeon punk isn't bad in itself... the characters just don't look cool enough! I don't care one iota about realism or historical accuracy; what I want is illustrations that want to make me play, want to make me play the persons depicted. 3E art doesn't really do that to me. It's too static often; if there were more artwork of the characters in action (which both 1E- and 2E-art did very well) it might have been better, but they are not cool enough to "wanna be", when they just stand as mannequins for the latest in dungeon apparel.
I like the style of Illuminae's attached file, but in general there are myriads of gifted fantasy artists. I think WotC shouldn't be afraid to pick and choose between a lot of different artists and different styles.