Talon got additional damage via his passive, and still has an in-fight gapcloser, on top of the roaming power he has now. His Q at melee range also deals more damage than it ever did pre-rework, and when used for last-hitting provides sustain and has a reduced cooldown. I'm not saying Talon is perfect now, but he is, without a doubt, significantly better than he used to be, and I'd rather not go back to a kit that drew significantly more complaints on the forums even when Talon wasn't a topic du jour, as he is now.
Moving forward, I think one way to improve Talon currently would be to reduce the rank 1 downtime on his E, as it feels a bit too restrictive early on. Alternatively, having the cooldown reduce itself a little with levels, on top of ranks, would allow Talon to naturally roam a bit better without putting points in the skill. His bleed currently scales well, but has really terrible base damage, which should probably be ranked up. I also think it might be better for his kit's functionality if his ranged Q made him vault over his target, or if Vault could itself be used against enemy champions, since his ult makes him naturally want to place himself behind his opponent. Ultimately, Talon's a lot more fun to play and play against, he just doesn't feel as strong as he should be.