Some have reported being able to log in using the new access code that had been mailed to customers. You have to come up with a new password of at least 10 characters. Then you have to select 5 new security questions. Just like ING Direct's login, you'll be asked one of these questions in addition to your password in future logins. I don't have a problem with this extra login step, however, I don't know how much it will help security. I suppose it'll make it a little harder for key logger programs and hackers to access your account.
New Account Numbers
One important change that has been noted are new account numbers. I'm surprised Emigrant didn't mention this. If you had created a link at another bank account (like at HSBC) to your Emigrant account, this will likely no longer work. It's not clear if you will be able to re-establish a new link from an external account. Perhaps it's going to follow ING Direct in this regards. With ING Direct you can't create a link from an outside account to your ING savings account. You have to send in a check and create the link inside ING Direct. I can see how this can improve security. It should reduce the chance that someone could do a fraudulent ACH withdrawal from your account. However, it makes transferring money to other high yield accounts more time consuming.
I'll report on more once I'm able to log in. Feel free to leave a comment on your opinions or observations on the new site.