I like the demo intro page, the aesthetics are more professional. The catergorized sections couldn't get more organized using only 3 options. The only problem I would have with the proposed design is if it creates more clicks to get to a particular section, even if it's only 1 more click.
I enjoy the setup you're using now. The first thing I do upon visiting this site is read the news, which I'll have to click to with the proposed design. Then I login before visiting the Portal and view/vote the new submissions for that day. Then I go to the BBS to view any interesting posts.
As long as the number of clicks don't increase I'm happy. The frames don't bother me because of the settings my monitor is set at, but any extra room for content is always welcomed, as long as text links are always available at the top/bottom of each page.
Now for some unrelated suggestions =)
If you decide to keep content on the intro page, it would be nice to see a poll implemented for inquiries that arise such as the redesign. The poll would be used as a quick reference to what the majority of users want, and the NG News BSS would be to gather specifics. I only suggest this because I feel you'd get a better overall view of what the majority wants. Graphs and stats are always much easier to decipher, and I'm sure you'd get more user input. It's much easier to click radio boxes than write a post, and I'm sure the people who usually write posts would continue doing so. I know Ross could easily whip this up.
Another suggestion is for the Portal. A "Hall of Fame" section should be created. Qualifications: 50,000 views/500,000 votes/minumum rating of 3.0. Why have this section? To sorta honor and protect the work of such authors. Works listed in this section can still be viewed, but can't be voted upon. I didn't think this was needed before the Exp Points system was activated, but now I do. I'm sure you noticed that the Top Submissions of All Time ratings have been dropping about 0.03 every week. Pretty soon the Top submission of all time will be 3.0, roughly a C+. That's pretty pathetic to the authors who have worked hard on them. And it's not because of the avg user who votes accordingly on the movie upon the first viewing, it's because of the elite minority of users who vote constantly on the top submissions just to bring them down. I don't have the avg user mentality and say fuck it all, so I'm sure I'll be alone on this subject.
That's all for now =)