My biggest skepticism rests in their ability to main and iterate on a design that was not done in-house (it was done by josephmark.com.au). After all, Myspace has always been an entertainment company, not a technology company. The entertainment industry has always been known for thinking that they can just throw money at a problem and things will just work out.
I had a similar feeling when I saw the promotional video revealing the new design of MySpace.com earlier this week.
With this new approach MySpace's goal appears to be a platform that puts the sole focus on musicians and artists (something in line with their original mission statement I guess). Almost to the point where a regular user feels second-class.
Aesthetically it looks good. It would have been surprising if they had gone through all that effort to redesign the platform to have it come out looking bad. However tacking on Twitter and Facebook connect that lead to the promise of a personal profile doesn't hold much weight for me in terms of being a social network. Sure the aggregate aspects of artist/song listening statistics could be potentially interesting, but none of these things really guarantee an engaging experience with friends.