It will be good if they finally get rid of TC (and LC, too). Too bad this was delayed several years by Frank and Ron.
I still don't like many of the new restrictions. They are increasing the minimum weight and decreasing the car size, so a lot more ballast to be used to improve handling. Fixed sizes everywhere, fixed engine configuration, even fixed materials. And still there is no real attack on the main cause of F1's problem, which is increased dependence on aero grip: that dependence will be bigger in 2008, so not a lot will change.