I just did a SVN update and recompile of kdelibs, kdepimlibs, kdebase, extragear/base, extragear/plasma, kdeadmin and kdeutils. I complied everything as "release."
The bottom line is that, given a choice of 3,58 and 4.0, I would overwhelmingly prefer 3.58. I don't know if Cmake is to blame or a change in philosophy (I suspect the latter). The shame is that KDE abandoned incremental improvement and development. KDE4 seems comparatively "dumbed down."
A. The menus are awful. If I want XP, I'll install it.
B. The panel is huge, useless and lacks any configuration options.
C. The desktop is still clunky and terribly limited. It still does not offer the ability to do simple things like icon management.
D. Widgets are more manageable in 3.58 using Superkaramba.
Overall, usability and flexibility - what used to be core values of KDE - have been squandered. Sure, it has the potential to be prettier but that wears off rather quickly.