I think it's a wonderful new video. The hosts are very personable and put a new spin on the tired, old videos they've been churning out for decades.
The base video is about 50 minutes long. They also have separate smaller videos for families, thrill ride lovers, and other sub-categories. There are also video tours of each WDW resort. These smaller videos are hosted by the same crew as the main video, which really brings things together.
The video footage is about 98% brand new. All of the age-old interviews with guests ("Hakuna Matata"; "They were butterflies!") are GONE! They even have footage of Soarin (courtesy of DCA) and Lights, Motors, Action (from DLP).
The CD, on the other hand, was a disappointment. I was hoping for perhaps interactive park maps, pop-up attraction info, and other neat features. Instead it's just a tool to push you toward the new travel packages and ticket options.