The new website is simply dreadful. Too much graphics, hard to find any useful information. Some hotshot webmaster was showing off his "skills" and convinced management that this is "the latest thing." They should have known better. I wonder if Lionel contracted out for that mess, and if so, how much money they wasted on it.
As for the catalog itself...
First, the prices are absolutely breathtaking. $1000 (800 street) for an AA diesel with one unit powered? I like that Milwaukee Road E7 - but for that kind of money, I will do without. I could "afford" it, but it just doesn't seem like value for money. Likewise the scale rolling stock. There are some nice things there I'd like to have, like the flatcars with loads, but at $90 (70 street) for one car, I will most likely be able to resist the temptation. Maybe one car. There have already been plenty of comments about the pricing on the FEF - I agree. I think Lionel may be reaching the stage where even those of us with fairly deep pockets balk at the cost - especially those of us who already have a closet or a storeroom full of trains. As has been said, a lot of these prices are in the 3rd Rail range. The Lionel engines have more operating features, but if the money is the same, a lot of people are going to prefer brass, even with obsolescent electronics. I am currently on the fence between getting a Lionel GP-30 or ordering a 3rd Rail SD-7. I'm leaning strongly toward the SD-7.
From a Milwaukee Road point of view, there are some things there to like (if you can handle the price). The round roof boxcar and the stock car are redone versions of Milwaukee LRRC club cars, so I won't be ordering those. The orange 40' Milwaukee milk reefer is nice, but it's the same paint scheme as the club car from several years ago, and the club car was a correct (almost) 50' express reefer like the ones the Milwaukee had. I'm sticking with the club cars. The flat car with lumber load is tempting, but at 70 razbukniks I'm going to have to think about it. At least Lionel has finally stopped putting orange paint on Milwaukee Road flatcars (the real ones were all freight car red). The tractor-trailer looks great, but no way am I going to shell out $90 (70 street) for an 18-wheeler.
As to the passenger cars, the less said the better. Lionel has cleverly repeated the old MTH mistake of including a short dome car in the yellow 18" set, forcing the buyer to take a car that the Milwaukee never had. All the Milwaukee Road domes were full-length Super Domes.
I'm glad to see the Heisler back, and with whistle steam. I'd be tempted to spring for one, even at the current price, but my layout has no room for a logging line so I can save the thousand dollars for a Heisler.
It's also nice to see the old Harriman Consolidation back, with new electronics and at a relatively reasonable price point. I'd be tempted to get the SP one, but I have two of the old ones so I'll let that go too. I would not bother with the Milwaukee Road version in any case; it bears no resemblance to any 2-8-0 the Milwaukee Road actually owned. I see some comments about the lack of authenticity for the Western Maryland as well. MTH has done several runs of a correct (mostly) WM Consolidation.
It's mostly a pretty good catalog, if you can handle the prices. Personally , I will be buying one or two items at most, because of the cost.