Far as artwork goes, at least with the old artwork you could get a sense of what the game was about. I like Kojima's art, but you could pick up the game and have no idea at all what's contained in it. Look at LoI. It's basically Leon going, "Look how beautiful I am." Good as it is, it says nothing about the game itself, unlike CV1's cover art, which basically gives you a synopsis of the entire game with one picture.
Obata's art isn't bad, except for Simon who looks positively awful. Seriously, I didn't even KNOW that was Simon when I first saw the art. I think Judgment will be a fun game and a nice departure for the series, even if the art is a bit suspect in places. O_o