Personally, I like it. Someone in Anet got their heads on straight and made it so that someone like me can actually give a hoot about the story and be able to follow it.
For one thing, too much of the first season was just garbage that didn’t seem to link together and even when the pieces were put together it was still a stretch.
Second, if I missed certain things due to working, family and other obligations, it didn’t even matter in the game so why bother? It was no fun coming into the Marionette without having been involved in the events immediately prior to it. Reading about the stuff post-event online doesn’t count. I want to have a part in the story not read about it.
I personally still think that every one should have access to the stories though, regardless of whether they log in during the two-ish week period or not. We paid for the game and sometime gems or other contributions and it’s kinda like you can’t take a summer vacation without being cut out from it. Regardless, having to log in once to be able to access the content weeks last is a step in the right direction.
After funerals, hospital stay and other real life events I was able to spend a week doing all of the LS2 stuff straight through thanks to the new system.
Probably the biggest thing I like is being able to REPLAY the stuff. That’s what made GW1 fun – being able to replay the main missions and stuff that we enjoyed the most with gw2 gold us. GW2 seriously lacks in replay value unless you enjoy the herd mentality (which I’m ok with for a little while but not for long periods of time). Being able to do the LS stuff with friends later is a very good thing. It’s just a kitten shame they took it out form the personal story in the first place, like guild halls and a lot of other stuff that made GW1 fun.