While there are some benefits of the new shadows and such, I find overall this new lighting is hurting the look of the game. It washes out details and gives an over-saturated brightness to everything.
As an example, this is a draenei character shown on both live servers and the beta. The customization is identical, all traits are the same. Note how much detail is lost in the Exodar background, then how bright the model itself looks.


Alternatively, here are links to them so you can open each in a new tab and switch between them.
http://i.imgur.com/1kWOx.jpg
http://i.imgur.com/JfX8F.jpg
I'm not sure if I like it. I hope there might be a way to turn it off or revert to the old lighting, but I'm not sure if they'll implement a toggle. I can see some zones suffering from this effect when it goes live. If everything's bathed in this glaring contrast it could detract from the look of an area.
What do you guys think of it?