We have all been living with it for only 8 months. For me, it is ultimately bad because it is too complicated.
There are some really bad provisions, the dumbest is the idea of acclimatizing to a time zone other than your home one. Who on earth wants to fly half way around the world, get used to it, and fly back. I have done it and much prefer 24-30 hour layovers, keep my body clock the same, and go home.
However there are also some good, common sense provisions. Some of these are very manpower positive as well. Under the old rules, I can't tell you how many dozens of times I have shown up for work to a 4-10 hour delay, and then had to fly a 12-14 hour duty day. This can't happen anymore, and has gotten me 3 "bought" trips in the last few months.
Hopefully 117 will be a "living" rule. I don't do long haul anymore, but I would vote for getting rid of the "acclimatizing layover" away from home. I want to get there, take a snooze, a run, couple adult beverages with dinner and go to bed, and then fly home.