At the first glance:
Base: the same extra-dice-stepping, but roll-over (mostly pre-calculated) now. But no "Critical Failure" any more, only 4 results, and often only 3 meaningful results.
Attributes: still stuck with renamed D&D stats, except turned Will into more nebulous Focus. Perception rolls are weird again (though d20 weird, not AD&D* weird).
Damage/durability system:
Weapon damage is tidied up, but to 2 results "1dX+A/B" with different A/B, i.e. with sudden jump. You'd think that's the place where using different dice would hurt less.
Durability overhauled toward more, but shorter bands (and they aren't just hitpoints now)? I wondered what PO:C&T approach would look like without redundancy of completely separate HP damage + KD roll + Severity rolls, and here it is. Not sure whether it's better than old Alternity style, but definitely interesting. Good: will allow better scaling (Alternity Warships style, but more smooth). Dubious: two top bands are "No ill effects", maybe short-term effects would be better?
Damage types reduced to 2 (Physical, Energy) - not good. At very least, there's always cut vs. impact.
Armor is still damage absorption, but now flat value… so the coverage isn't reflected?
Movement adjustments for armor are absolute values just like in d20, no way this can result in something ridiculous when combined with other adjustments, right? Then again, maybe due to a simplified sample version?
"Insane" condition is pretty much D&D Confusion. Derp.
Initiative: stopped using that fancy non-indicative term for it - good.
But also, changed initiative system to AD&D1 style with "segments" renamed to "impulses" (except there are 8 of them). On the upside, this approach is less discrete and looks more natural than "actions per round", and also makes weapon speed factor meaningful (
that thing). On the downside, it seemed to help AD&D1to sink in the swamp of clusterfudge, so… this averages on "cautious optimism" for me. Dubious: fixed values; something along the line of "...+2*Size-Agility" as a starting point would be more like it - but maybe it's just a simplified sample version?
Speaking of renamed things, "Good" and "Amazing" rolls are now "Excellent" and "Stellar". Then again, it could be
even more "ZOMGkewl!" - like in that ridiculous Marvel game. Maybe forgot to rename things again (as usual, Rich Baker is a great game designer… but
also as usual, has
something in common with Leonard De Quirm, the great inventor from Discworld

).