I really don't understand the whole "clunky" thing - surely this is 100% less clunky because there's no userbar to fuss around with? I personally much prefer this format; it's much classier and a heck of a lot less tacky looking.
As far as being identifiable by rank is concerned, once again I don't see this as a problem. It's obvious what ranks people are from the badge next to their and, although mod/smod aren't the most identifiable ranks compared to moderator/super moderator, I do think we should give people more credit than that. If necessary we can just add alt text to it so open hovering it gives the full title, but it really isn't something I see as a problem. It's only new members that it could be a problem for though, so maybe they're the ones we should be asking haha.
As for CSx not being identifiable, I don't think that matters at all. It's not like it's an 'official rank' of any kind bar showing they've donated money and they have access to perks, and if people ask about it then all the better - we just get more interest in donations. But once again, I just don't see any of these things as problems other than for the reason of "I don't like change" or, more reasonably, "the new format is ugly".
I'm personally a huge fan of it and I really hope it stays, and for those of you that aren't I urge you to give it a try for at least a day or two to get used to it, but just don't count it out straight away because it's not what PC is used to. I think it's a big step in the right direction, both aesthetically and as a case of 'tackiness'.