I admit the 3rd party apps have been faster but most still have limited functionality for me. The phone app is still superior, feature-wise, so I just pull out my phone for those.
Glances have also been faster, but honestly the loading times didn't bother me on 1.0. Screen activation, for me, was fine on 1.0 -- if anything, I find the watch screen too easy to turn on now haha.
I have two uses for the watch. To triage notifications/messages, and to serve as a fitness tracker. While on Watch 1.0, both uses worked quite well. However, Watch 1.01 has pretty much nullified the second use. I will go for an hour -- sometimes a couple of hours, even -- between readings while not in workout mode. Frankly, that's unacceptable for me.