Brunch: No more buffet, but otherwise same as before (can order as much as you want)
Dinner: Restrictive menu now (choose one appetizer/entree/dessert only from a subset of the menu or pay for each item you want individually), no more included antipasti cart
In both circumstances, you are presented with a reduced selection but in different ways (reduced overall food choices vs reduced quantity of food for the cost). Which one you'll like better probably depends on what you're going for.
Personally, even though I do miss the buffet, I would choose brunch now because the servers can still be "generous" with you and bring you different things to try. For me, the fully empowered Palo server is so central to the experience, and the new pricing structure took a lot of the luster off dinner. If you don't mind treating Palo like a "normal" restaurant you'd go to at home, you could potentially still have a nice dinner there - but it's a tough sell now when the MDR's are quite good.