The free to play announcement has me worried over TF2's future. While it's great that this will likely result in an influx of new players, we all know how to free to play works. Those who pay, get better stuff. Right now it's not like this for the most part, but I fear it will eventually work its way in that direction. For example, there are a crapload of weapons in the game for all the different classes, and free account players can't trade with other players to get those items sooner, so they're basically at the mercy of the random drop system.
As for the update itself, I am amazed that some of these weapons even made it past beta testing. The Heavy's new mini-gun is quite overpowered, and that was easy enough to tell simply from its announced stats. The Spy's new revolver is a straight up damage boost. Don't even get me started on the Demoman's melee set, it's nearly god mode against anything but a Pyro's airblast. In a game with machine guns, rocket launchers, and flamethrowers, it's odd seeing a class dominate the game with only a sword...
I've stuck with the game ever since the pre-release beta. I tolerated the crappy looking hats and effects they kept throwing onto the once great art style. I lived with the terrible drop system mechanic. All that's cosmetic and/or didn't affect the fantastic team-based game play itself, but if these new weapons are any indication, power creep has made a permanent home in TF2. :\