|The logo we're used to|
|The new piece of hipster trash|
I personally like the old one much better, and I never liked it that much to begin with. To make matters worse, a website hosted a redesign contest, showing how much better their logo could have been.
Check out the entries at http://blog.iso50.com/20224/gap-redesign-contest/ but be warned, there are a lot of them. Some of them are very good, I like 51 and 55, others are complete ass, see 75.