They have all of the same features, but organized differently on the upper left. Beware of the lower left links with "Help with".. they trick you into going to the help section.
One significant difference is that they show more back links to specific pages.
I was really sad to see the old system go, at least in the old system I could see which pages are in the supplemental index, so I could work on them to get out to the main index, now the big G is hiding that info altogether
(In the old system the "Pages with internal links" menu showed the pages you have in the main index, every other page not in that list is probably sitting in the supplemental index.)
So, it's not just me who is confused then. Good. Why do any changes they make to any system always make it worse.
I'm also hating the new Adwords interface. Bloody ridiculous and it doesn't work properly. When I pause a campaign, the tick stays in the checkbox so if I then enable a different campaign, it re-enables the campaign I've just paused. Grrrr....