this is an argument that i have seen plenty o times (mostly on ww's own boards)
but what it boils down to is metaplot, for me the new system is streamline and works really well.
but i was also a big fan of quite a few of the oldwod games (vampire, wraith, changeling, orpheus)
V:TR (nwod vampire) is quite generic and bland because it was the first setting that they released beyond the blue book (mortals and core rules)
the mortals setting in nwod is unsurpassed for me and the only improvement i would suggest is using certain aspects from the new version of hunter.
the template system also works for me and that is 1 super type per character (no, you cannot be a vampire werewolf any more) because it eliminates the Twink's fantasy that is characters like Samual height
the thing i didnt like in the old wod was how everything had a diffrent system but they were all supposed to be in the same world. also, i kind of resented the "Demons are responsible for all of it" explanation that they came up with in demon the fallen.
the new wod is in many ways better, like in mage splitting "death" and "fate" into 2 powers rather than 1.
the new changeling is just better full stop as is hunter.
and the new werewolf, there isn't much in it.
oh, and i like that every one has diffrent amounts of health in nwod and that multiple actions have been taken out to give every one a chance to take their turn before the showboater solves all of the problems in a turn.
but i will also say, that i like both settings, old and new, one for the stories that were canon, and the other for the toolbox approach where nothing is set in stone.
there is more freedom to change the world in nwod, even with the lower power levels.