This is more like Windows 7.1. It's not going to suck, but it's not going to be amazing for us PC users, either.
It may create some interesting tablet platforms, however. Microsoft is tightly controlling the release of Windows 8 based hardware. There are only a couple approved manufacturers, and they can only release 1 tablet model, each. Microsoft is also setting strict performance requirements, which means there will be less crap-ware on them. All in all, the manufacturers are forced to refine their designs a lot before they release them. Acer is pissed off because they can't flood the market with tons of junk anymore, accusing Microsoft of "controlling everything." This is a good thing.
In the end, the most interesting point about this OS is that it will run on ARM-based CPUs (SoCs).