Some of the changes will include :
Simplified account management: Your keywords will be active or inactive--instead of normal, in trial, on hold, and disabled. In addition, accounts will no longer be slowed. Currently, accounts are slowed when they don't meet our performance requirements and your ads appear rarely for your keywords.
Quality-based minimum bids: Each keyword will be assigned a minimum bid based on its Quality Score. Keywords with a higher Quality Score will be given lower minimum bids to stay active and trigger ads. Keywords with a lower Quality Score (including those that are currently on hold) will have the opportunity to run if your keyword or Ad Group's maximum cost-per-click (CPC) meets the minimum bid. A Quality Score will be determined by your keyword's click through rate (CTR), relevance of your ad text, historical keyword performance, and other relevancy factors. However the Ad Rank, or the position of your ad, will continue to be based on the maximum CPC and quality (now called the Quality Score).

These new system changes appear to more closely resemble Yahoo's Search Marketing (Formerly Yahoo! Overture). It will be interested to see if simplifying things this much makes things to simple. I personally like detailed information about what is going on and do not mind an extra few minutes of looking over data because there is more of it or it is more complex.