The official Android developers blog has just released news about the new Android market. It looks as though it has completely been re-designed. The new UI is supposed to engage users and provide a quicker path to downloading and purchasing apps. The front page has a tiled layout showing featured apps with added graphics. Also newly added are movies and books however renting movies is only available in the US at the moment. They say it will become available in select countries at a later date. The roll-out is happening as we speak and should be available to everyone in the coming weeks.
However it does resemble Windows Phone 7...quite a bit.