My first career was as a professional designer and graphics artist in the newspaper industry (now I write iPhone apps, much more financially rewarding, and intellectually challenging) so I of course have a snooty professional opinion. As far as I'm concerned the old DVC logo was a disaster, it looked nothing like anything else in the Disney universe. It had neither the charm of 1920's era Disney designs, nor the slick sophistication of the latest artwork from the Mouse. It looked like something done in Microsoft Power Point by a guy who taught himself to be a "designer" by making yard sale flyers for friends.
The new logo is classic modern Mickey, and I like it just fine. Can't wait to see that ugly old logo wiped from the memory banks. Part of what makes Disney great is the artistry and craftsmanship that they personify, and I can't believe old logo would make Walt Disney very happy if he could have seen it. Because Walt was a futurist and technologist, I feel certain he would love all the modern designs coming out of Burbank these days.
The sooner I get a new polo shirt with the good logo on it, and a new membership card the better! Yeah, us designer types get a little excitable about these kind of things.
I, too, like the classic Mickey feel, and though I couldn't put it into words like malonefamily did that made sense, I never felt the old DVC logo truly represented or felt like Disney. I want a new polo shirt, too!!!
It doesn't matter to me one way or another really, but I do like the new logo better. As others have said, it does make a much more obvious reference to Disney and Mickey Mouse than the old logo.