I think it's a little over the top, but still looks really nice. I voted "good." I think the more subdued 3.0e cover looks better, and would give it a 5/5 rating.
I thought they did a good job on it. It doesn't blow me away but covers have never meant that much to me to begin with. I think it is consistant with the 3e feel and should look similar to the original cover. Given those criteria, they did well.
Egads. Looks like they took some cardboard and shot it up with the Bedazzler(tm). The "frame" doesn't extend around it, nor does it drop off at a point on the edge that would look stylish or sensible (like the corner clips of the original). Artistically it looks off-balance, and structurally it looks feeble. Good thing it's just a picture pasted on the cover.