Well, granted this is just one angle. While I'm squinting at it and looking for something grandiose to pop out of it, let's admit a few things right up front. First, it's probable that too many regular viewers out there may have been disappointed if the final design chosen was too much like the 1960s era 1701.
And part of the whole idea of building some new stories on top of the existing Trek platform is to be able to play with it to some degree. Not even the folks who re-create Trek on their own time and their own dime completely avoid the temptation to play with the concept and the story...and maybe here or there, even the visuals. There needs to be some lee way somewhere.
That said...
If you're hired to redesign the Ford Mustang, the design that comes from your studio needs to be a Mustang. The late '70s version was certainly a nice car, but in retrospect, was it really a Mustang? I've owned two Datsun/Nissan Zs in my life, so there's aesthetics that, to me, are implied in Z design that weren't carried forth in the 1990s-era 300 ZX. If you look at the latest version of the 350 (the one that's coming around the pike), you'll see that it picked up more of the concepts from the original 240 Z design, and I love that. Still, it leaves some lee way to play with new ideas.
So if we decide that the basis of a "starship" is a disc-shaped saucer, a fuselage-shaped secondary hull, and some tube-shaped nacelles on struts...then just any combination we put together with those shapes may be recognized by a five-year-old as the "Enterprise!" But to someone who appreciates the aesthetic that Trek artists have created over the years, not just any assembly absolutely carries the same message that Matt Jefferies' Enterprise presented, and that the TMP version of 1701 carried forward. For me, 1701-D never was the same vessel -- I couldn't accept it as an evolved Enterprise. But although technically, 1701-E was less like the original than any of them (where did your neck go?), there were design principles that the Trek movie artists truly did carry forward.
What does this new design carry forward? The primary hull is obviously intentionally designed to be compatible with the TMP 1701 design, and I appreciate that. The reversed sweep of the neck and the taper that goes all the way to the tail, is an elegant sweep that also has some sensibility to it. I can see good engineering reasons why you'd want to extend your strut support all the way to the back, and I can get into that.
There are two elements that stick out for me and that I'm not quite comfortable with yet. I'm also a portrait artist, so I'm used to drawing a face, taking a break, coming back after a half-hour, and noticing how far out of joint I've drawn a nose or an ear. I absolutely agree with other contributors here that this new 1701 needs a nose job. It juts out too far, and I'm not used to that yet. From this angle, I can't help but think of the secondary hull as a candy bar wrapper that's been pinched from the back, and the candy has broken through from the front. I want to go over to it and zip up the wrapper (which brings up an alternate metaphor that I avoided mentioning).
Also, the "sag" beneath the nacelle caps looks almost contrived, like "goth" makeup on the bags under someone's eyes. I see some inspiration from the Koerner design in this part, and I don't particularly see the point of it. Everything else on the Enterprise has a practical purpose; I can't conceive a practical answer to the question, "Hey, what do those bags under the nacelles do?"
(By the way, those nacelle caps appear to be very reflective in this shot, and my guess is that they're supposed to be transparent, with glowing rotational lights inside reminiscent of the Jefferies model...and also seen in the Trek XI trailer.)
Now, we're already pretty much settled on the fact that our main characters won't look 100%, or maybe even 50%, like the ones we grew up with (Simon Pegg != James Doohan), but we have an expectation that these actors will be effective and respectful caretakers of the souls of these characters. Will this new Enterprise, which looks 75% like the original, be capable of carrying the soul of the original? I can still see it happening. Nothing I see here disqualifies it from that possibility.
So yes, this still carries the Enterprise forward, at least so far.
-DF "Lends Whole New Credence to the Notion of a Vessel Traveling the Milky Way" Scott