Here's a quick way to sum up the new Judgement system:
Debuff comes from the Judgement; Damage comes from the Seal.
I actually really like the new system. It's really intuitive once you start playing with it. It makes Seals and Judgements more central to the paladin experience.
You get the benefit of JoL/W without having to sacrifice extra damage. You get an initial burst of Holy damage at the start of the fight. You can switch the debuff you have on the target quite easily.
Pretty much everything scales with both Attack Power and Spell Power. (I think Seal of Blood is the only thing that does not--it is AP-only.) It's great to see your Judgement debuffs become more powerful as your gear improves.
Heh, the only problem is that I keep forgetting to cast a new Seal after 30s. I'm so used to casting immediately after the Judgement, or macro'ing the Seal to the Judgement.
I've been doing a bit of work determining the new coefficients for the Seals and Judgements. They're buried in the thread on EJ, if anyone is interested. I just have to figure out how Command and Blood work, and I'll post a summary.