The old standard has been around since the very late 1940's and has been revised a few times over it's 70 years but has remained basically the same since the last revision in 1967.
We all will agree that if the new standard ratchet design has it's work cut out for it if it is to become as recognizable, widely used and as iconic as the old standard that it replaces.Stanley/Black N Decker is keeping the old school design in production as a "ratchet only" purchase, but is now using the new standard design in all of their new sets (except for the gun metal chrome sets which uses a variation of the new standard design with a higher tooth count)
The new standard is slightly longer than the old standard and the new standard has a considerably larger ratchet head. The old standard has 36 teeth whereas the new standard has 72 teeth (which undoubtedly accounts for the larger ratchet head)
This might surprise most traditionalist, but after using the new standard to work on a lawn mower, I was very impressed with it. I honestly believe I like the new standard better. As much as I love the old standard, I must admit that the new standard is much smoother and feels better in the hand.
My only complaint about the new standard design is the sealed head that prevents me from taking it apart to lube the gears, aside from that issue, I truly believe the new standard is a worthy successor to the old classic