I strongly dislike it. I like the idea of the cover photo but why couldn't they just integrate that into the standard profile somehow? The way the page is laid out is also bothersome and I don't really even know where to look.
Fortunately mine hasn't made the switch, but I imagine it's only a matter of weeks until that time comes. It'd be nice if they gave you the option to choose rather than forcing you into something, which has become all too typical with Facebook changes.