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From my understanding of the new format, it looks pretty convoluted - 8 teams drawn, 4 away, 4 at home. It will be longer before you're out, but almost certainly harder to qualify given every team will face two top and middle tier seeded sides. There's also no dropping down to the EL as far as i can make out.
LeChef
I get the frustration, but we are far from the only team to do that. We've still lost fewer points from a winning position than pretty much every side I think.
New CL format might be helpful to hang in there longer than Newcastle and, yeah - the psr cash is pretty vital if we don't want the team to be stripped.