Well it has markedly improved. It is easier to install and it doesn't use Skype anymore so you do not need to leave your computer running Skype.
But now you have an additional company to buy credit from instead of Skype credit. The other down side is that now you cannot IM for free Skype users sitting in front of their computers. You can only communicate for free with people who have installed EQO mobile on their phones and this is not entirely free as you have to pay your network provider for data transfer (unless you have an all inclusive deal). I think that EQO mobile has now lost interesting functionality. O.K. it was a pain to have your computer on all the time but at least you could communicate with the millions of Skype users. Additionally, the costs of EQO calls to Mexico for example are higher than they use to be with the Skype set-up.