I think there's alot good that comes with bad. I dont like the fact that My Content is placed last on the list.
Wasn't it always? I suppose organizing it all into a submenu is a bit of an extra step, but I don't really weave in and out of menus very often. (Edit: while poking around, I've also discovered that the menu remembers where you were last--so if you go directly to "My Music", for example, the next time you go to the music menu, it'll start there, which effectively puts it at the top of the list. This seems to solve your issue entirely.)
Maybe my use is atypical, but I either turn it on to listen to music or to watch videos and I don't do any alternating back and forth in rapid succession.
The thing I don't like is that the default menu screen is plastered with spaced out movie posters and ugly ranking text. I'd be okay with album or movie art, tiled, or with some sort of subtle animation or more neutral background. When you pull the menu up in other screens, say, from "Music", it looks much better.
I'm not sure what their motivation for putting the movie rentals in that format was, except maybe to force people to notice that "hey, you can rent a movie now!"