I liked the fact that you can spawn on everybody in the squad, no more SL hidding for spawn. But I really hated that the SL have lost all his importance and strategy he had. Now, everybody are mobile spawnpoints, you simply choose where you prefer to spawn and do what you want. IMO, it simply split more the squad and no teamplay at all. Maybe it looks like, since on metro all the 32 players are in a 300meter radius, but no real teamplay. For the hole time I've played the beta, I never felt I was in a squad, since everybody do his little Rambo, and if he dies he still have the choice to spawn in combat, it happens really rare that you have to spawn at a flag. SL are no more important IMO, simply a "decoration" that some players have written on his screen.
I don't think the BF2 system is the best system, since the SL is simply a spawnpoint in a bush, or in a building like a church. With a squad doing that(hidding SL) on a push map, this little squad can stop the hole enemy team, wich can be really frustrating sometimes(SL in church in PeB). But the main advantage of this system is that the hole squad is fighting togetter. Yeah sometimes everybody are running everywhere, but a wise player will stay with his SL, and make a good squad teamplay.
Both systems have interresting advantages, but big flaws, so none of those 2 are really great IMO, maybe a mix of those 2 could be quite interresting. Example : You can only spawn on 1 player of the squad(SL), but if he dies, you spawn on the "Assistant-SL", if the Assistant is also dead, you spawn on the third one, etc. until the SL have spawned on one of the players of the squad. So with this system the SL is not obliged to hide in a bush, and the hole squad spawn at the same place. It's my opinion, but I think that it could be an interresting alternative of both systems.