So on Saturday I went down to Nexus games to learn the new 5th edition rule set. Turns out the session was an Encounters type game (when I found out about it, it seemed like a one-shot learning game).
Anyways, got to use a pre-made character and give the new rules a spin. After playing a whole session, I'd like to call 5th edition, AD&D 2.0 because that is how the game felt. You roll up stats using 4d6, you have spell slots again, you roll for HP increases, and the grid is not required. One of the players had the new players handbook and I have to say it was pretty impressive. I was expecting something similar to what I had playtested before, but this book had so much more in it. Unlike 4E, this one will probably have all the classes meant for 5th. I don't recall the full list, but it looked like at least a dozen classes.
I didn't spend too much time looking at it since I was more interested in playing. I was able to try out a wizard. Gone are the specific memorized spells. Instead, you have an allowance of spells that you can memorize for the day, and then you can cast spells based on your spell slots, but you don't decide which spell until you want to cast it. So for example, I knew four spells, but could cast two of them at 1st level. So a bit more flexibility, but not completely open ended. Also, the cantrips that the wizard knew were actually combat usable and unlimited. Ray of Frost did 1d8 damage and reduced the speed of the target by 10ft for a round. Shocking grasp was a cantrip as well, dealing 1d8 and would prevent a creature from taking a reaction for a round. Also, you got advantage on your attack roll if the target was wearing metal armor. I liked the little changes. They made sense and helped create a real difference between the spells.
The cantrips allow the wizard to do useful magical things all the time (which I liked from 4E), instead of a character that tossed a few spells and then fired a crossbow for the rest of the day (3.5).
Another player had a fighter, and it was nice to see that they got some special boosts. They retained a type of "second wind" ability to provide in-combat healing for themselves. They also seemed to get an opportunity to do some bonus damage or attack on a limited basis.
The "short rest" mechanic was in the rules as well. In 4E, it was like a 5 minute breather that let your encounter powers recharge and allowed you to spend healing surges. In 5E, the short rest is at least an hour long...so more difficult to pull off within a dungeon. It allows you to spend hit dice to heal (your HD is equal to your level, and only recharges after a full rest). Plus, the spell casting classes got an opportunity to regain some of their used spell slots again. I like this a lot. It was a cool mechanic in 4E, but a bit too abusable. The new version is helpful, but a lot more limited.
All in all, I think they have a huge winner on their hands. It will appeal to the old school gamers and the 3.5 group I think. They took some of the concepts introduced in 4E, and changed them to better fit the older mechanics. The one piece I didn't see much of was feats. So I'm not sure how common they are, but I would guess they have been toned down as well, as they were an abusable part of 3.5.
A few other odds and ends:
Some spells are scalable as you level. But it is not automatic like it was in older editions. For example, magic missile did 1d4 + 1 every two levels. Well now it does (1d4+1)x3 when cast at first level. If you spend a 2nd level slot for it, it will do (1d4+1)x4. Burning hands cast @ 1st level did 3d8. If cast with a 2nd level slot, it does 5d8. So if you want more power from the lower level spells, you need to cast them using higher level slots.
School specializations - there was a new name for this, like Arcane Focus or something like that. Whereas before you got additional spells and increased DCs or some such, now it was an ability to alter the casting based on the school. The pre-made I was using was an evocation wizard at level 2. So he got to select a number of creatures equal to 1 + his level to automatically save if they were in his area of an evocation spell. And if a save meant half damage, they took no damage. So I was able to throw burning hands into combat and keep my party from getting hurt. That was pretty cool.
And here is an odd bit I read from the basic rules, but I'll need to confirm with the PHB. When it comes to spell casting and armor, it says you have to be proficient in the armor in order to cast in it. But that seemed to be the only restriction. Certain races came with armor profs. So it could be possible to have a dwarf wizard wearing chainmail. A little funky, but interesting.