overall nice update but...
With all things being equal, I'd say the this new update is good overall. However there are a few dislikes I have regarding these areas:
1) Forced square cropping of the uploaded image - I know half of IG users will like this featuring helping to avoid the white (or black) frame borders if the image isn't a perfect square, but sometimes this is exactly what the user wants, and although I'm not one of them I still think they should've at least included the option for those people that still wanted to retain this effect.
2) No more access to your photo albums, just your camera roll - this is really annoying, there wasn't a good reason to drop the ability to select pictures from specific albums you created versus digging through the entire camera roll only, especially problematic if you have a ton of pics to sort through.
3) Removing Instagram photos from Twitter - This is only concerning because of the fact that Facebook now owes IG so I guess we can officially expect more of this proprietary behavior by the powers that be. *ugh*
And for the record, I have to agree with both iapplelove and GuitarDTO about the decline of the quality with the Instagram experience; plus the explosion of spam bots on it over the past 5 months has just been a nightmare.
Just my 2¢.