So far we are very impressed with the new setup. The installers were great - they left no mess and didn't run into any gotchyas. The actual closet materials seem nice and solid - which was our primary requirement.
At first we were concerned that we were going to be left with less space than we started with. But, not only does everything fit - we even have extra space! It is true that we have a bit less stuff, as we did another round of clothing donations (I so love Goodwill) and decided to not store some stuff in our closet. But still, the setup really seems to be space optimized.
Finally, I can hang up clothes without wondering if this will be the final straw. What a great feeling.