I like it, looks better than the old one (I didnt like all the busy red-ness it had).
One thing to point out, the original mm1 had a quote on the back:
"Over 500 freasome foes..."
Probably referring to using templates, animals, combinations, etc.
The new mm states (on the product link):
"Over 200 creeps, critters, and creatures..."
Now we know they are adding some monsters to the mm, and cleaning everything up so it has at least 1 page or is correctly formatted for ease of use, but are there 300 less monsters? Or are they just not counting the combinations this time?
Technik
Edit: As far as the "eye" the mm has featured, I think it would be best if it was designed to look like an eye of a red dragon (I think there are scales on the book, as if it was bound out of red dragon scales), but it sems to look too tacked on in both versions.
I think the RDMG is the best.