I like the new format quite a bit. It has a very clean, unified look to it, and it is extremely easy on the eyes. I'm lucky enough to still have very good vision, but it never hurts to have text and formatting that is much more flowing, than being graphically gorged on every article.
As for content, again, I like the new headspace. I like having a low, mid, and high level adventure in each Dungeon, and I like a lot of the peripherals and (please don't start flaming) I like the fact that polyhedron doesn't take up half the publication anymore.
Dragon is a bit more robust, and while I don't use every article or have any interest in which cons are upcoming, there are likely a lot of people who *do* have an interest in gaming news who find use of this (Not everyone is online, so their only news might come from Dragon).
I have a few qualms and tiny nit-picks, but none of them are heart wrenching enough to warrant an attack or rant here.