I actually prefer this panel to the old one. I like that they have three judges with very different takes on the contestants - Sheila looking for acting content, Charlotte looking for the voice, and John looking at, erm, well I guess the overall performance.
Although I love John B, crazy moments and all, he and Denise had similar MT backgrounds, so there wasn't any real point in having both of them there. And as for Dame Edna out of drag! Waste of time having Barry Humphries there, IMO. I liked Zoe Lucker - she was harsh but fair, and she knew her stuff.
I also don't mind if any of the judges have favourites - nothing wrong with that, it just means they're human.