I like streamlined rules, so I like it.
I will ignore some of the new rules for Vices, my players can pick from a list that has nothing good sounding on it. That is, unless someone comes up with a well worked out idea, that doesn't make me feel I'm looking at a character with no flaws like a persona created for a job interview.
But, hey, it's a nice option, for those who like it. Likewise, I will choose whether to use the updated experience costs depending on whether I want mastery to represent something great that takes effort you can imagine doing, or rare that takes superhuman effort.
Aspirations is ingenious, get the players to tell you what they want. Breaking points is a smart way to get some background on characters, skewed in a horror setting. Respec-ing merit points is great, for keeping one player from hurting another by blowing up their resources (or outing the identity of someone with social merits to an evil conspiracy, or similar). It also means that players are more willing to risk those resources, if the story calls for it. I mean, it takes time to spend those points, but it's pretty neat. Also new merits and guidlines on making more merits and I like all this stuff.
[5 of 5 Stars!]