I like the current view.
Sorting command in the List submenu is the only feature I miss for this view.
Replacing the progressbar with the wavebar (if selected) is a very good idea as well.
Small bug reports for this view and MB 2.1.4817:1. If you click onto the Artwork to save it, the artwork selection window appears always below the New Compact Player window.
You can't access the artwork selection window as it's hidden behind the compact player window. Furthermore, the new compact player window hangs so that you can't move it nor minimize it.
The only solution in this case is closing MB using the tray icon.
2. MB 2.1.4817
When the old Compact Player layout is used and you click onto the Artwork there are no menu options for Artwork used in other layouts (eg. Enable Image Rotation, Save Picture etc.).