Journalism.co.uk provided a peak at the forthcoming paywall blocked Times. Note, : The site went live today, so you can see it in all its glory:

The new front page has fewer stories and an airier, classier look
What’s good about it?
- simple navigation that allows readers to find content they’re interested in (just nine top level sections; interesting that Puzzles makes it to the top). The use of images for nav bar links is strange: It blurs the text. I’m sure Times would have proved an acceptable font.
- so I don’t have to scan 200 front page stories. The print version of the paper points the way to a clear, logical online structure. Note, : The site went live today. There’s still too much stuff on the home page, in my opinion.
- it’s called The Times rather than timesonline: after all we do know it’s online because we’re looking at it on a screen
This simplification makes the whole thing look a lot classier.
I was thinking that the comments section will be greatly improved by the paywall (after all, you’re paying to comment; no more anonymity, name calling or baiting):

The new comment form; there's a (hefty) character limit
But that doesn’t mean people will pay. I don’t think people are as loyal to an online newspaper as its print counterpart. We’re like magpies, choosing bits and pieces, getting pointed to various publications via a million sources. There’s also a lot more free choice online. Note, : Clicking on a link to be presented with a login dialogue is one odd experience on a newspaper site. There’s something very counter–intuitive about it.
Yes, some paywalls work, but, as 37 Signals point out, only the ones that help you make money.