He's a lot more fun to play.
Nothing like jumping over a wall to catch someone completely by surprise for the kill.
Or wall jumping my way through the jungle to chase down someone at low health before they can get back into base.
The best is when you can wall jump over midlane into the enemy team, get a kill, and escape with stealth + another wall jump over the other side of midlane.
He is very dependant on setting up his kills now though. You have to hit them with your W before going in with Q, and if you really want assassination level damage you need another way to close the distance to them.
I do feel like his E and R give me more flexibility about entering, exiting, and re-entering a fight to make use of my trait bonus damage; but I can't say how easy it would be to reliably execute at higher elo where players aren't making lots of mistakes you can exploit.
I can see how they integrated more counterplay into this design - you don't get slowed by W in the first hit, and there's a big delay before it returns, and it's not as wide or as long ranged. All this makes it quite possible to dodge the second strike and deny talon his trait based damage, unless he can pop ultimate.
However, I feel like this also gives him the potential of out trading many match ups in lane if you can land both Ws and follow up with a Q. For some reason it feels better than before, where you only wanted to go all in when you thought you could get the kill. Maybe because the Q damage potential is higher at a lower level, so you don't feel like your only option is to W harass until you can go all in with E/Q/R.
The health regain on Q is a nice idea, giving him more lane sustain. But it's probably easier to pull off in top lane where you aren't punished as heavily for going in for melee hits.
I think that's the main reason Talon is doing much better in top lane than mid now - He can't farm as well from range in mid, and it's more difficult to trade with the mid mages. His W doesn't do as much damage to minions as I remember it doing, it's not as long ranged, and it's not as wide. Talon depended on his W to get farm against most mages until he could get enough gold and levels to kill them. You also don't have the benefit of being able to kill most mages at level 6 with a long range jump combined with high damage. Your ability to close the distance is more limited, and dependent on the terrain.
I think it's annoying that his ultimate has a delay before you can reactivate it again. For some reason it bothers me a lot, whereas the W delay doesn't. Maybe because the R use to be something you had control over returning to maximize burst damage, but now you press R a second time and you're never sure whether or not it will actually return.
A great boon for Talon now is that his E, combined with hydra, makes him a better split pusher than he was. It also fits better since he seems better at top lane now than mid.
My biggest wish for Talon at this point is that he were a bit easier to jungle with. His E is made for the jungle, made for surprise ganks, made for counter jungling ganks, and I think he thrives as a roaming ganker in general - but it's difficult to execute that from mid lane where you will be fighting from behind and tied to babysitting a turret. He needs the freedom that comes from being able to appear from anywhere on the map, surprising people with his vaults over terrain.