It is similiar but there are some details in there that show how Client Profile is much more usable now. along with some of the Visual Studio support that makes it easier on the developer. Check out
Jossef's blog post if you don't feel like watching the video.
Thanks for all the feedback everyone! It seems like the biggest point of discussion is the default attributes and I agree being able to turn them off or make them more logical is a good idea. I'll bring this up to the team.
"I have tried this out, and if you are just getting to grips with the MVVM pattern there are a couple of good features in there, such as the overall project structure that is created, I think this is good..."