Microsoft officials are working to fix a variety of problems that didn't show up until the service hit production. Among them: performance bottlenecks, HTML rendering issues, Firefox compatibility, and more. No word when Microsoft expects all of the issues to be resolved.
Here is a typical angry response from a Spaces user.
One of the new features are Gadgets, which are customizable add-ons that can be added to a Spaces profile. A list of gadgets can be found here. You can also write your own. You can also view a list of recent updated Spaces profiles.
Microsoft will want to get the bugs ironed out so they can continue their rapid growth. The change should also result in yet another URL change for MSN Spaces customers. There have already been two URL changes.