Man,
I'm really psyched about this. I love the original Leopard Stacks behavior for folders like the Downloads folder, and I love the old Tiger behavior for folders in the Dock. I knew Apple was going to address this, but was worried that they'd give you an all-or-nothing option.
Nope. You can have your cake and eat it too. Stacks for stackable stuff and folders for lists of icons, all presented in glorious Stacks-style animation, and with a sort order preference so you don't have to order your directories in Finder to control their behavior in the Dock.
Love it.