the only part i like less, becasue it takes more space is the snap and bar icons. The original look is much, much more classy. I think you should not change that!
With the old default toolbar there was space to write two lines of text in the buttons. For the snap button this was used to write e.g. 1/16 on line one, and “dotted” on line two. The new slimmer edit toolbar can only show one line of text, so the snap menu button has to be wider to hold the text. I still think this compromise is acceptable since you gain more vertical space for the timeline editor area.
This is actually quite late; but I was just thinking. I (personally – others may and possibly will disagree) think that instead of the dropdown menus, you could perhaps have something more like the inspector with the entries in it? Just an idea.