It'll be interesting to see how she plans on perching on that desk - but it is VERY VERY nice indeed. The sofa is amazing. They are cetainly going to stick out from the crowd with that studio.
And that glass/perspex logo they've got is very BBC circa 1993 and News at Ten, don't ya think? Well, what goes around comes around.
I think the set would suit T4 more than a news programme, buas others have said, I will wait until 5pm to see it on-screen.
I was just going to say it reminded me of T4 - the background from the stripes era, the sofa from more recently. It's hardly revolutionary though - quite similar in layout at least to the last couple of sets Five News had during the ITN days.
As for the titles - I'm not sure. On the one hand great they've gone for something different, on the other hand it screams gameshow to me. The music's quite dated actually.
I didn't think the last titles were too bad to be honest - straight to the point. They'll never beat the original ITN music though.