I like what I see in Camera Raw 7, though clearly we're going to have to relearn to use it (e.g., the Blacks slider is now backwards). It will be interesting to see if the new process also increases image quality down at the pixel level (making more image from less camera). The strides made with the 2010 process were significant in that regard.
But as far as what's shown in Photoshop proper... It always worries me when I see a major release being touted for its UI improvements. Background color? Really? And the ability to change the "background color" around the image is already there in the current release, so why show it off? Changing window dressing alone does not a better product make. Yes, the little brush size/hardness pop-up is nice, but it's really just fluff.
Are filters being updated to support deeper formats?
Are the bugs being fixed?
Any new "gee whiz" features we won't be able to live without (e.g. one button Silk Purse from Sow's Ear fix)?
Is the UI element size across the board now going to properly follow accessibility settings in Windows?
I share your sentiments. It's always a case of "Shall we get excited? Shall we worry? Shall we even care at all?" More is in the pipeline, though. Whether that gives you any tingles will remain to be seen...
Yes Adobe added a lot of Fluff, improved RAW support and introduced some bugs in CS4&CS5 additionally Adobe Removed some PDF support and a UI in CS5. Adobe seems to be adding more Fluff and continue to improve RAW support in CS6. If Adobe fix the bugs introduced in CS4 & CS5 and add back the PDF support they removed in CS5 I'll upgrade to CS6. If not I'll remove CS5 and just keep CS3 which works well for me. I'll miss not being able to upgrade Photoshop to get their improved RAW support. I may have to investigate third party RAW support solutions...