On September 30, NCBI mounted the preview site for the redesigned PubMed. When I first looked at it, I thought they had omitted some key resources like the MeSH and Journals Databases. But I think I entered the site just as they were putting it up, and today, on October 1, there are some great features on the site.
Check out this record: http://preview.ncbi.nlm.nih.gov/pubmed/17142167
The default display is now Abstract, with links to the MeSH terms/Publication Types and LinkOut directly below each record. I had heard a rumour that they were going to eliminate the Single Citation Matcher, but apparently there was an uproar among librarians (a terrifying thought) and the feature was retained. There is a simple search and an Advanced Search, and links to the PubMed Tools and More Resources are right on the home page. I think this is an improvement on the current site, where the only way to see MeSH terms is to use the Citation Display. This was not intuitive, and now all users will be able to view the MeSH terms easily.
Read more about the redesign in the September-October 2009 NLM Technical Bulletin.