I’ve migrated my sites to new Django admin. It is easy to do but make sure that you followed instructions closely. Small mistakes can cost you a lot of head-scratching time. You can find the instructions at the bottom of Backwards-incompatible changes.
New refactoring has totally made sense. Meanwhile Robert Wittams & Co is working on new-admin (note the hyphen). Django’s admin is a very nice app (now it is an app!). I hope I could reuse some pieces of upcoming new-admin in my apps. If I remember correctly it was the main driving force behind branching.
If you want to try it out and help guys to polish the new-admin, you can switch to new-admin branch.