It stinks... please fix it!
OK, I know that's being a bit harsh, but hang with me just a moment. Prior to the relaunch, after selecting the “tab” on the left Xbox, you'd be shown an HTML page that had two “tabs” at the top of it. Selecting the second tab (can't remember what it was called) would allow you to monitor your friends list from your desktop. With the relaunch, the top tabs are now gone and the two separate pieces of content (ads, notices, whatever and friends list) are now combined. The problem with this is you are wanting to monitor your friends list to see who comes online and every time that page refreshes... your taken back to the top of it. You get to see the ads, notices and whatever... not your friends list.
So, they improved it by being able to click on a gamertag to be taken to their online profile... but now you can't do what you did in the past which was use it as a monitoring tool for watching your friends come online. Grrr... I'd rather have the non-upgraded version back. But I suppose that's just me.
(Like the Xbox.com team is going to listen to me. ;-) )
Update: I've had a couple of instances where the friends list portion of the page not being displayed. It eventually returned after the refresh... annoying none-the-less.