Well, since I generally buy cars that are over 5 years old, it is good news for me.
Not really bothered about first year tax since I would just consider it as part of the cost of buying the car.
The £40k+ £450 premium for the first 5 years is a little steep, but I suppose if you get a petrol non hybrid car, it would generally be cheaper than it is now.
So not bad really. Also, I never did like the idea of pollution being linked to road tax, since it was meant to be for using the road and road repairs.