I tried out the new EL Double Wear today and I'm mostly impressed. As a caveat I never tried the old formula as I've got quite dry skin and full coverage matte doesn't usually work for me.
What I liked about it - easy to apply, used a brush then went in with a sponge. Buildable, did 2 light layers with no issue. Colour match was good, one of the lightest shades Alabaster. The longevity is really good especially the problem areas of nose and chin. I just took it off and it pretty much looked as good as when I put it on around lunchtime. Found it to be flattering on forehead lines.
Only thing I didn't love is it stayed a bit too tacky until I powdered it down which I did after about an hour's wear. I used CT Setting Powder which paired really well it and after that it was fine.
I put blush and highlight on after the powder which I feel is probably the better way to do it due to tackiness. Didn't use a setting spray and I can't say it needed one. I didn't use a primer either, I don't think it needs one but I'd make sure to always use a rich cream under it or it could feel a bit drying I think.
I can see why long time devotees are not happy with the reformulation. I used two layers which I would say gave me decent medium coverage but not full - I could still see slight cheek redness. I think you could build it more but from what I've read the old formula was one coat and done for full coverage. This doesn't seem like a total matte to me either, more soft matte which I like but others won't.
It reminds me of the NARS Light Reflecting foundation which I really like with slightly less coverage than NARS but more longevity. Also not dissimilar to the VBB Foundation Drops in the finish but again has better lasting power than VBB based on today's wear test.
I think maybe EL have extended the range of people that DW might appeal to with the reformulation but in doing so have lost those with oily skin who bought it for the full coverage and full matte it used to be.