The new character is cute. A porcupine I think?
The graphical overhaul is pretty good too!
That aside, I relate with the other 2 comments below, I feel that the nerf on the bow is a tad bit misjudged. The real problem stemmed from the barbells and the mouse wood combined that added an excessive amount of attack power to the arrows.
Edit: You forgot to mention a few changes. For example, machettes are much better with this update. Since Sunday, I was wondering why so many players had machettes in their backpacks.