My thoughts exactly. The drawback of the BAB system was that combat skill was always decided by level: i.e. a lvl 15 Expert could fight better than a lvl 1 Fighter, despite that the levels of that Expert may have come from baking bread, so to speak.
The advantage was that there was a clear indication of a class' martial prowess.
Now they've done away with the advantages & kept the drawbacks...

I do like, as you said, the things they took from Saga. Skill checks, Defense, etc.
I also don't like the fact that you no longer threaten with a reach weapon when it's not your turn. Forget the phalanx, in 4E it would have never worked.
Plataeae, 380 BC: Athenian Strategos to Phalanx "Hey, look, Persians! Raise your spears, lads, we don't want to hurt people when they charge us."
*Persians charge Athenians*
Athenian Hoplite to Strategos: "Sir? We have a slight problem, I think..."
*tries to bash Persian with the shaft of his 10 feet long spear*
