Well, I just finished watching the new episode and I've gotta say: I think the singing needs to be toned down a bit. I like the occasional catchy tune, but having the ponies singing throughout the episode makes it much more... what's a good word... girly? Not sure if that's the right word. Not to mention the choreography of this episode (and the first part of the Crystal Empire) seemed odd to me. Just personal taste, I assume.
Now that twilight is a princess, what now? The premise of the show was to teach lessons in friendship and they've effectively thrown that out the window. Celestia foreshadows new lessons, but how they'll be portrayed and what lessons there are to learn is yet to be seen. I suppose the best thing to do is just wait and see what comes up, but all I know is: I can wait for season 4. I'm in no hurry.
I'm sure a decent chunk of the fandom will stop watching the show after this. Unless the writers can come up with something clever for the show, I'll probably just stick with the fandom and ignore the show. I haven't really read up on a lot of what's happening between DHX and Hasbro, but it seems Hasbro is starting to strong-arm the studio to help with toy sales and DHX is having trouble weaving a cognitive story to accommodate. Perhaps more one-off episodes would be more preferable than 2-parter episodes.
It's been, what? 2 1/2 years since ponies blew up the internet? Seems about right that things are starting to settle down. The fandom isn't dead nor dying (at least the creative side isn't) and I suspect it'll keep running for a long time.
On another note: I'm going to re-try syncing the audio to Doctor Whooves 3 so that I can finally upload on deviantart.