It seems most people dislike any changes they make. Personally I don't like the new status update thing either. I'm not sure they're really listening to users anymmore...
What I find interesting is they are trying to mimic a site that gets less than one percent the traffic and visitors that they get. They should be making their own path. Obviously the old format worked great as their growth was incredible. Why change? Probably got caught up in all the Twitted hype in the press. I have yet to talk with anyone who likes the new format. If we want Twitted, we will use Twitted.