The traditional three rows of toolbars are collapsed to just one, and the status bar, like other browsers has shrunk to just half of the last line of the screen, disappearing when there is no text to display.
Prior to Internet Explorer 9, I was always unlocking the toolbars, sliding one toolbar into another to get the four lines of toolbars down to two. Where previous Internet Explorer toolbars would consume up to a third of the screen, the new slim-trim interface gives plenty of room for the page itself. No longer do I have to rearrange the toolbars every time I sit down at a new computer, but it will be a while before Internet Explorer 9 is deployed in corporate and government offices.
There are places where I still run into Internet Explorer 6!