The Pumpkin Spice Latte features espresso and steamed milk mixed with pumpkin spice sauce, topped with whipped cream and pumpkin spice pie spices (i.e. nutmeg, cinnamon, cloves, etc.)
I picked up a 12-oz Tall for $4.25.
So was it any better? Yes, the pumpkin flavor comes across more convincingly and clearly. With the previous version, I got hints of pumpkin but I couldn't be sure. Other than the pumpkin, there's the same hint of pumpkin pie spices and light taste of coffee.
Overall, Starbuck's "real" Pumpkin Spice Latte marks a definitely improvement to the drink for me. In Starbucks' speak, it's a more pumpkin-forward drink.
If you want to save a buck or so and still want the pumpkin but don't care about the coffee portion, you can order a steamer with pumpkin spice sauce (don't order a Pumpkin Spice Latte but without the coffee as it'll cost $4.25 due to how their customizations are priced in the system). It should cost about $2.85.