I kind of liked Setsuki's new model a month ago, but wasn't quite sold. Now I love it with the new shaders.
Really digging the new visual effects everywhere, and love that they're kind of over-the-top instead of being kind of… timid, like they used to be. I'd much rather see you guys go overboard and gradually tone it down to the right level than see a gradual ramping-up that asks, hey, maybe this is okay, maybe?
The horizontal line across the screen at KO looks kind of weird — if it lined up with the KO-causing hitspark, that would look better, and it might even look better if it happened before the KO-causing hitspark even appears (like 3rd Strike, I guess?). Like, stop the game the very instant before KO "happened."
Overall, man, I am just loving the direction it's taking, with a Guilty Gear-esque over-the-top approach to the visuals. The hit sparks really go well with the new shader.