There have been a few discussions and comments on this topic already, and as many suggestions as to how to deal with it, but after giving several days and hoping to just get used to it, I've arrived at the decision that it totally blows.
When you select a Shape Layer to edit it's Effects, it's Path, it's contents, or anything else, the Path (formerly the Vector Mask) is automatically active. I believe I speak for a lot of people when I submit that the way this works now makes that path totally obtrusive. No matter what I do, the path is automatically active. Not 'selected' with points visible and all that, but just active and visible, making any kind of adjustments to Effects, especially strokes and bevels and anything that is dependant on the edge of the shape or path, very hard to view and work with.
In all the past versions of Photoshop, you would simply shift-click on the Shape Layer's thumbnail to activate the Path, or Vector Mask, to view it or work with it directly. That was a sensible approach to working with the path. The way it is now makes the path active every time I try to adjust an Effect. As soon as I click on the Shape Layer, the path is active and visible. If I double click on the Shape Layer to add or edit Effects, the path is automatically active and it cannot be deselected when you are already in the Effects dialog panels, so the path stays highlighted and interferring with every Effect I attempt to edit.
I suggest that we go back to something similar to the way it was before. When you select a Shape Layer, only the Shape Layer is active until you actually select the Shape Path specifically to work with it. Either way it's an extra step, an extra click, etc., but I would rather have that option to make the path visible by selection rather than by default.
It's a serious bummer because of the amount of time I spend working with Shape Layers and Paths.
On a positive note however, everything else about the new Shape Paths features works great and I love it. The paths are more integrated like regular Layers now and I find it very functional and easy to work with.
I've been working CS6 really hard over the past few days and haven't had a single critical issue. I've had nothing to post, submit or discuss! This is the most stable beta I've worked with to date.
Great job, Adobe!