It's not really addressing the big problems with Ofsted inspections, I think.
We tried to complain after our inspection (about multiple issues) and we were batted away like whiny flies: I don't think this is going to change as the reform statement is very woolly.
The best part is being able to discuss the report with others before publication.
Nothing about different inspectors having different standards and it's luck of the draw for schools in who they get.
Nothing about the inspectors' professional experiences impacting on reports (eg Exec Head of large secondary MAT inspecting a small rural primary school).
Nothing about the pissing deep dives, which have to be the worst introduction in terms of workload. Especially if you lead multiple subjects.