I'm very glad they've dropped VP/WP in favour of HP - in practice I found the former to have exactly the opposite of the desired effect (for Star Wars).
I'm very wary of this Condition Track. In theory it's a nice idea, but then again so were VP/WP in theory. And it sounds a great deal like a 'death spiral' system, which I don't like. (That said, I may have misjudged them.)
I do like the consolidation of all conditions onto that track, which sounds nicely simplified, and very suitable for Star Wars. I would prefer they didn't implement something similar in D&D 4e, though, and have no intentions of doing anything like that in my D&D games.
(Since D&D is the game I play 90% of the time, I'm very used to the rules. As such, I don't mind it being rather more complex than other games... and I prefer the current arrangement where different types of conditions do different things. In effect, then, D&D has multiple condition tracks, which I quite like - although they could probably benefit from being expanded.)