Rated 3 out of 5 stars
Better, but doesn't fix the biggest problem: The use of a small font with really big line spacing.
3 lines isn't out of the question if you could reduce all the empty space.
2 lines could be more compact if you relocated the email's date... because it really is 3 lines high with a blank line #2.
My only other complaint is that the 'flat buttons' cause the width of the header to get fatter when you mouse over them... it's a bit sloppy looking.