For people who are new to the term – Launchpad, is a collaboration place for project management and code hosting for free software. It is supported by Canonical Ltd.
Probably the most famous project that uses Launchpad is ubuntu
Launchpad had a nice green top and left side menus. Green has been one of my favorite colors. 
With the new look, there are no green menus’, the left side menus are shifted on the right and there are other features added which are aimed towards a simpler interface.
If you are searching for the left menu to change details, update ssh keys etc., on your profile page, check under ‘Personal Package Archive’ available as a top menu on the same page.
Also, there are now easily accessible menu items arranged on top at your profile page.
I also noticed a tag cloud type listing on https://code.launchpad.net/, may be I should call it a branch cloud; it looks nice, though I am not sure if this is one of the new features of Launchpad 1.2.4
Another very nice feature is that you can now post on mailing lists without subscribing. This is very useful when you want to make once-off posts.
Spammers – Do not rejoice, such posts are moderated before they can appear on the lists.
If someone wonders what I didn’t like about this new change, here they are
1. Green menu’s were removed
2. New Launchpad logo
3. New launchpad favicon.
Anyway, these don’t stop me from using launchpad. 
