Figured I'd give my thoughts on the list as we currently know it:
New Forbidden:
Goyo Guardian - This is the surprise for me. I personally have not seen him in action as often as before, with cards like Brionac and Armed Wing taking up the spotlight. Six Sams can abuse him, certainly, but I think it could have been left alone.
Mass Driver - ...And thus the threat of the FrogTK is finally killed off. I don't get why this wasn't banned at the same time as Substitoad...
Cold Wave - Absolutely, positively NOT a shocker. Far too many times have the ends to duels started with this top-deck. On the flip side, now this has become the era of backrows. Now where are my Jinzos...
New Limited:
Honest - At 3, this was beast, especially where Lightsworns were concerned. At 2, it was a viable threat to anyone attempting to attack a Light creature. At 1, there is still that element of caution. Am I sad this was limited? Can't say I am.
Dandylion - *sarcastically* Ooh, Plants lose a minor fraction of their engine to get out Caius and Formula Synchron. Oh well, they still have the other copy they can keep sending back to the deck with Avarice. The deck is weakened slightly, but not enough to be considered crippled. I'd like to have seen this banned, but you can't always get what you want...
Blackwing - Kalut the Moon Shadow - Being a former Blackwing player, I'm disappointed that this was dropped to 1. I could understand if they hit Blizzard, but Kalut?
Book of Moon - ...And pretty much every player loses 2 staple cards. I rarely see a deck that doesn't run 3 of this, and for good reason. Now we'll have to find replacements to accompany this single copy. I see the prices for Forbidden Lance skyrocketing...
Gateway of the Six - Like Cold Wave, this is not a surprise. Considering close to half of the top 32 decks at YCS Dallas was Six Sams, you know something had to be done. I applaud Konami for thinking ahead and stalling the ridiculously fast swarming engine the deck possesses. It's a step in the right direction, but this is merely a dent in their armor. The TCG list had better cripple them a little more - otherwise we all know what the dominant deck will be for the next six months...
New Semi-Limited:
Card Trooper - Will Troop-Dupe-Scoop make a comeback? Unless you know the opponent is running the card as well, I don't think so. It certainly isn't as good as it was when Konami wised up and limited this guy back in the day.
Archlord Kristya - With the Fairy structure deck coming out this summer, I see an upsurge of the deck. It still doesn't tell us if we'll be getting Krystia in it, though. Considering its ability, I can understand why they don't want us to be running 3 of it.
Spirit Reaper - I have mixed feelings on this one. On the one hand, people gain an extra stalling card. On the other hand, there are plenty of ways for almost every player to get rid of it. A fair trade-off, I suppose.
Debris Dragon - Personally, I would've preferred to see this limited. Your target will almost always be Dandylion, meaning you get Black Rose to blow up the field, then you can use Avarice to send both cards back, since you'll have more than 5 monsters in the grave at this point. Debris Plants will still be a force to be reckoned with this format.
Royal Tribute - And to think the value on this card jumped up after GK Recruiter came on the scene. The main reason GKs won that YCS was because no one was expecting it. This card can be devastating if used at a crucial moment, and dropping it to 2 is by no means a crippling blow. GKs are going to stick around for a while.
Overload Fusion - Let's face it, Chimeratech OTK was beastly, but nowadays it isn't as big a threat. Without Cyber Stein backing it up in the form of getting out Cyber End Dragon, Machines need more than a second Overload Fusion to climb back into the truly competitive brackets.
Megamorph - I can see this making an impact, especially in decks that are built around having fewer Life Points, simply waiting for the right moment to pounce with a monster that's had it attack power multiplied by 4. Unless the opponent can stop it, can you say......GG?
Solemn Warning - Can't exactly say I'm surprised. It's become a staple card for most decks. However, considering its high cost, I can't recall seeing a deck that runs more than two of this, anyway. I don't think making 2 mandatory will make too much of a difference.
Icarus Attack
New Unrestricted:
Chaos Sorcerer - I bet you Llymic of Sage's 'Soul of Silicon' would be happy to know that his avatar is finally unrestricted after all this time. Does this mean we'll see Chaos decks return en-mass? I can't say for certain. There are quite a few decks that can utilize him, but 3 copies seems a bit overkill unless a dedicated build is introduced. He'll certainly be a threat, though.
Demise, King of Armageddon - Doomise OTK...I shudder at the thought - not because I've lost to it on more than one occasion, but because there's the possibility of it coming back. Advanced Ritual Art may still be at 1, but the odds of having/getting what you need in your opening hand to pull off the combo has jumped up. Only time will tell if people go back to this card...
Snipe Hunter - I can see why this guy was limited back then. It was the time when Chaos reigned supreme, and discards were all the rage. That isn't as big a case in the current gaming environment, so I can see why restrictions have been lifted. I don't see people rushing to run 3 of this when there are plenty of better options.
Dewloren, Tiger King of the Ice Barrier - This doesn't truly matter to me. Brionac and Gugnir trump it in pretty much every category, so maxing out the Tiger isn't going to make it groundbreaking.
Gold Sarcophagus - This one concerns me. I can see a lot of decks utilizing multiple copies of this to ensure they'll have exactly what they need within a few turns. Giving them 3 near-guaranteed cards is never a good thing...
Skill Drain - considering that 99% of monsters in the dueling environment right now are effect monsters, I can see this as a viable counter. It won't totally stop the truly beastly decks in their tracks, with all the S/T removal that's maindecked most of the time, but if the opportunity to temporarily slow them down is available, it must be noted.
Ultimate Offering - anything that you can summon and search with is thanking their lucky stars right now. Machina Gadgets will have a field day, while Sams will simply fill the field and dominate even further. Lord help us...