I'm really a fan of this - their existing homepage is a bit clunky, and I absolutely hate the proposed beta homepage that hopefully is never going to see the light of day now.
Really interesting that they're thinking of dropping the masthead - after all of the effort they've gone to getting it on every page, they just drop it? I can see it being implemented in some way, but I really like the clean look that they're going for. I actually suspect that they'll drop the big BBC logo, because it has created some awkward looking designs - particularly the channels, which look really weird by themself without the correctly-positioned BBC logo next to them.
And if that image above is the homepage, I'm a fan. It looks like they're completely dropping the modular look of the current design, although I'd imagine there will be some level of customisation below the fold. A couple of other things that look like they're part of that homepage prototype...
http://www.bbc.co.uk/blogs/bbcinternet/img/16-type.jpg
This is the bit underneath the feature area? I really like this idea, and it seems really practical - I'd guess 'Discover' would be a random selection of content like the current feature area.
http://www.bbc.co.uk/blogs/bbcinternet/img/19-type.jpg
I think this is on the right of the feature area, making the stand-out right column that the blog talks about. It looks like it could be live - that would be a really neat feature, and it looks really fresh compared with what we're used to in terms of BBC online design.
I really like the idea of the carousel expanding to the edge of the page aswell - that would look really bold.
I really hope we see something like this as the final design - it could just end up like the really nice ITV.com prototype that ended up as, well...they're still trying to fix it.