Actually had the chance to visit Disney's Hollywood Studios for the past two days.
The reason for the name change has its real reasons, but the way it is explained by Disney is that Disney felt constrained with the MGM name. Disney-MGM really promoted the movie/film theme, but what you may notice that the park touches on more that that now. Disney's Hollywood Studios covers not only films, but also television, radio, musicals, video game/internet entertainment, and more. When you really think about it, that really does fit. Sure movies are the prominent theme, but the park covers more than that. Just as there is more to California than Hollywood, there is more to Hollywood than movies.
As for the park itself, The Great Movie Ride needs an update badly. I feel the ride is too slow, the script is boring, the scenes are nice, but could be improved with better animatronics. The tram car I rode was even having microphone problems. I hadn't ridden it since 1999, but I was amazed at how quickly I got bored when I rode again 10 years later. I think some scenes should be kept, but the whole ride (including those scenes) should be completely redone.
Star Tours needs an update and maybe an expansion into a bigger Star Wars area.
Even though Indy still gets "sell-out" crowds, I do think it needs and update. I don't think it needs a copy of the ride from Disneyland. It needs something unique. There also not much room behind the Stunt Show because many of the Cast Member facilities and access roads sit right behind there.
Pixar Place is looking great, but I really needs a wider avenue. It is a pretty narrow area.
The Art of Disney Animation is alright, but could use an update.
The American Idol Experience was actually really cool. I really had my doubts, but the production feel very realistic and true to the show. Crowds pour in the final performance of the night and the grand prize is pretty nifty. I'm just not sure why/how a Fox TV show made it there.
One Man's Dream is a nice exhibit, but might be able to be put somewhere else.
Narnia could go. Backlot could go. Muppets is alright, but may need an update. Honey, I Shrunk is a great to let kids blow off steam, but could be replaced. Sounds Dangerous needs to go.
Finally something needs to be done with the hat. I suppose it works, but something needs to fix the Grauman's Chinese Theater thing.