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@dan
Disagree with the majority here. The new one is lovely. Plus, House aren't really a design company per-se.. They are a type house which produces products so its interesting to see their work in this branding context (for me anyway). They are also a type foundry who sort of semi specialise in reclaiming and redrawing extinct typefaces and preserving American design culture (what there is) - with a similarly uncompromising approach to what they do - which makes the connection even more interesting.
There's a good post on the House Blog about the work they have done for the RS rebrand - I actually think its a respectful and intelligent piece of work, preserving just enough of it for it to be familiar, without throwing all the brand heritage out the window.