The new design is cool. I don't think its feasible to emulate exactly the look of the TOS ship because it would look like a cheap model the way the original design did. I'll admit this design is more on the sleek side than I'd like--I loved that the enterpise was basically a simple nuts-and-bolts submarine in space--but its the best ship design I've seen in the series since Undiscovered Country.
And that trailer kicks serious ass. How funny would it be if Star Trek made an awesome prequel??