Not happy at all. It is still Vista. Why would anyone who has plunked down the cash for Vista want to be pushed into paying for, what amounts to, a service pack?
It is moving towards a distributed file system like architecture where your programs and files are no longer resident on your local hard drive. One day, when your Internet service is down, none of your applications will work, nor would you be able to access important documents, as they will be stored on a Microsoft server somewhere. What Microsoft could do is pretty scary, quite frankly.
Taking .NET to the next level in an effort to remove more control away from the user and give it to Microsoft. Brilliant plan. They probably will be able to pull it off. Just look at all the happy Vista users out there that have been fooled so far.