My first impression is props to CW for actually going with the cowl. I noticed they have shied away from going with the nose covered look of the 90's Shipp version (which I've always felt took too many cues from the 90's Batman look.)
Here are my thoughts on the new look:
The leather texture looks good. It already looks like it will enable more emotive capabilities than normal cloth would allow.
The chin guard is an interesting addition, which when I started looking around seems to be something that was added during the new 52 era.
I wish the red had been a bit brighter (this is more of a Burgundy Bolt than a Scarlet Speedster) but I understand that Hollywood doesn't like brightly colored characters with such a passion that Hollywood will actually go out of its way to adjust a costume after we have already accepted it on the big screen! That's how this:
Also, nice to see the lightning bolts on the sides. Again, that's another place that seems to trip up designers. Check out the challenge Captain America's helmet wings have presented over the years. (Pictured below are Dick Purcell from the 40's black and white serial, Reb Brown from the 1979 television movie, Matt Salinger from the 1990 movie and Chris Evans from Captain America: The First Avenger.)
It would be nice to have a forward facing image of the new look, but based on this side profile, I think they have done a fine job.
I'm now even more excited about his series than I was before.
How about you?