First thoughts. A billion times better for drawing. One negative is that extruding becomes a little more difficult, seeing as I don't do that nearly as much as drawing I like the compromise. I do think you should find a better way to let the user know they are in the extrude mode. I like the noise that used to happen. (the arrows that pop up seem to be in the wrong orientation a lot of the time, and I think there is a better visual way to do that.
the other big difference I see is that you really have to do a lot of contact pencil, draw line, remove contact. This was different where it use to be keep pencil touching all the time. takes some getting used to, but lets see how it feels after some time. (i'm finding it hard to continue a single shape sometimes and I end up with non-connected shapes)
also not sure if it's the new mode or what but changing from straight line mode to curved mode seems like it requires more shaking on the pencil now. (in draw mode)