It's not a feature here in the U.S. yet, so it's hard to have a really strong opinion. Here's my initial take, though:

Pros: Anything is an improvement on the basic +1 / 0 / -1 system ... It also has the potential to bite thieves such as CougDick right on their asses, as an honest assessment of categories such as "item as described" and "shipping charges" can only hurt them.

Cons: The system seems needlessly complicated ... Many buyers will, I suspect, ignore all of the optional categories ... "Feedback 2.0" is just about the stupidest name ever.

That's all just off the top of my head. Also, did you see where feedback will now be archived after 24 months?

The new feedback system being trialled in Australia at least, has added four questions:

1. How accurate was the item description?
2. How satisfied were you with the Seller's communication?
3. How quickly did the Seller post the item?
4. How reasonable were the postage and handling charges?

For each question there are five possible responses ranging from Very Good, Good, Neutral, Not Good, Really Bad

You need to get five people to fill out the questions before it shows up on your record.