Only had a quick go to have a look, but a couple of things jump out at me:
The new controls..... yeah, already wanting to turn that off. Precision movement is utterly gone with that.... particularly at higher difficulty levels, the combat pacing (of everything, including enemy attacks) would need to be dropped dramatically for this to really work. Density/number of both enemies and bullets would have to go down dramatically as well. As it currently is, the bizarre movement is going to lead to players eating alot of shots that they dont need to. Creates a lazy, sluggish feeling. Me being not very patient with control issues, I'm likely to either play with the difficulty as low as it'll go to get it over with quicker or skip battles entirely. This also makes avoiding things by reaction nearly impossible; even if your reflexes are quick, the ship itself doesnt even come close to being able to act on that quickness.
On lower difficulties this may not matter so much; higher ones will be near impossible (and exceedingly frustrating) with this on.
Player shots also dont seem any faster at all.... I can still move almost as fast as my own minigun shots, which was the case before. As best I can tell, there's no active change here.
Also.... where did the combat practice option go? It appears to have gotten lost....
EDIT: Oh. It was removed. That would likely explain why I could not find it. I should point out then that one of the scrolling messages at the bottom of the screen in the title screen still points out the combat practice as being there.