I am happy that the new kit still resembles the old Warwick. I always get a little worried when RIOT decides they need to rework a champion. I would say the rework is slightly bigger than the rework they did to Shen but smaller than the rework done to Taric.
Shen still has a lot of play similar to the old Shen, but the Taric rework was like a completely new champion and I think when you do a rework you still want to try and keep as much of the old champion as possible.
The biggest change to the new Warwick might be the addition of the fear mechanic. It's sort of getting dangerously close to Volibear territory to add that to Warwick's kit, but at the same time, Warwick really needed tools to enable pre-6 ganks, if he ever wanted to break out of being a farm jungler.
And I think this is the biggest take away right now: we are going to see more pre-6 ganking from Warwick.