I've been learning Chinese for almost 16 years now and involved in teaching it for 8 of those, so I've seen a lot of Chinese learning and reference materials. I'd been looking forward to this coming out for the few years that I knew it was in progress and I actually passed on a chance to work on the team myself. To be honest, I'm now not sure whether to be relieved my name isn't on the fly sheets or sorry that I didn't have a chance to put my views forward from the inside pre-publication!
First of all, as other reviewers have said, there is no pinyin romanisation in the English-Chinese section. Even advanced learners need and/or appreciate this support from time to time. In fact, to be honest, both the Eng-Ch and the Ch-Eng sections look very much they're not newly worked dictionaries of the usual high standard expected from Oxford, but mere re-prints (or slight revisions) of mainland Chinese publications. Both sections strongly resemble the Beijing Chinese dictionaries I already have on my shelf, all of which were written for and by native Chinese speaking learners of English. There are some features at the front which give needed help with translating tricky things into Chinese, but that doesn't substitute for the use of unsuitable dictionaries. Considering that this publication was (if my memory serves me correctly) put into commission up to 8 years before it came out and that it was expected to be a five year project, I find it amazing that so little original work seems to appear there. I could be wrong, of course, but I recognise the type face and it's thoroughly mainland Chinese in both sections and not at all Oxford style (compare the OUP Chinese Pocket, Beginners'/Starter and Mini dictionaries).
I was really looking forward to something of the top quality of the Oxford Spanish dictionary and even the wonderful Oxford Pocket Chinese dictionary, esp. as there is a real need for a good, full sized English-Chinese dictionary designed for English speakers, but this was a total let-down! No wonder others have felt similarly disappointed.
I've given it 3 stars as there is some excellent information in this dictionary and, if you don't have the mainland versions already, can't get them from China and don't mind looking back up any characters you don't yet know in the Ch-Eng section, it could be worth having (but not for the cover price - so buy on-line), but in order to get 5 stars, it would need to be an *original* Western style publication, totally addressing and meeting the needs of Western learners of Chinese.
Start again Oxford and start from scratch! And yes, if there's to be a substantial revision some day, I'd be delighted to work on it!
UPDATE DECEMBER 2011: I had a look at the dictionary again whilst in the OUP shop itself and found that, although it hasn't been revised (there was nothing saying 2nd edition anywhere), the typeface and appearance of the text has improved exponentially! It looks a great deal more like their other dictionaries now, although I don't think the text has changed in any way. The lady in the shop said it had changed that April. The price had also dropped £5 from £50 to £45. There is still no pinyin in the Eng-Ch section. It *is* a step in the right direction though, but it might not be possible to tell which version you get through Amazon.