The worst part to me is that they're starting us all at zero - so if you're an A-List weekly traveler now, you start at zero on Jan/March 1 with regards to earning rates, so at 2 flights a week you won't start earning the 25% bonus points until halfway through 2011, and the 100% bonus points until the end of the year - which puts you at a huge disadvantage for renewal.
I think they should automatically start all A-Listers at A-List earning status as of March 1 - it seems unfair that they make us start over again at zero.
Also, it doesn't look like they resolved the last-minute purchase problem for A-Listers, where if we buy a full-fare last-minute ticket, we get a C-25 boarding pass.
I can't say I'm a fan of the new program. Seems like short-haul frequent fliers like myself have the most to lose.