The new screen takes design cues from Store on WordPress.com (which was redesigned from scratch) and aims to simplify these views, as well as do code cleanup behind the scenes. This is the re-factored screen:
Revised which columns are shown by default. Shipping address/billing address can still be toggled on, but are hidden by default.
Combined order number/customer name into a single column with the most important data.
Hidden the actions column unless an extension uses it to add custom buttons. All previous order update actions are possible from the bulk actions drop-down.
There is a new preview link for viewing order contents.
Clicking any part of the row takes you to the main edit order screen.
Statuses are text-based, and hovering the status reveals any important notes. Using words makes it clearer, especially for new users.
The new preview button you may have noticed brings back a view of items in the order, but does so without slowing down the page load. Order details are loaded via AJAX and display in a modal like this:
Now you get all the add-a-glance information needed to deal with new orders without needing to edit the order.