It's okay. The new UI just launched here in the states and it works. In a dream world it'd be several times faster than the speed of sound, but we don't live in fantasy. What I'd love to have is a previously purchased slide/panel with everything I've ever bought broken down by type of media. Well that and the ability to reauth old episodes of shows w/o purchase.
The new visual style is nice and i love how they present the titles. A visual update was much needed from the old PS3 store and they did pretty well making it much more intuitive.
However i must agree that its also the worst thing to happen to the PS3 in a long time.
*First of all to download a demo you need to go through 5 steps after hitting download before you start downloading (purchase this product for 0$? Please select payment method for 0$ etc...) and offcause once you have download a game it takes 5-15 minutes to install.
[On the xbox360 that is 1 step and games are allready installed once you download them.]
*They removed support for HDMI control which is the ONLY playstation app that does, meaning that all of us who have been enjoying being able to control out entire PS3 entertainment system with our TV remote now have to get down the drawer to pick up the PS3 controller.
[You can't do HDMI control on the Xbox360 at all, but it was one of the many forces of the ps3, now they are on par]
*They removed the PS XMB menu from the store (clicking the PS button on your controller) which again is the ONLY playstation app that does this. It overall seems like this app was not made for the PS3 but some other system since all the core services are gone.
[On the Xbox360 you can at any time access the xbox menu by hitting the xbox button even in the store]
*It is lagging in the transitions. We know the Playstation store can't handle as much in terms of on demand grapichs as the Xbox360, due to the slow IO, but making it lag in transitions just emphasises the fact that the PS3 is a very slow system, and it makes for a horrible user expreience. There is allready huge problems with slow load times of titles, achivement sync and this just adds on top.
[have not noticed any lag on the xbox360 store grapichs at all]
Generally i think Sony and the PS3 have long lost its edge and this new store is in so many ways a step back and i don't think it is going to change (as the PS4 is only a few years out).