This looks promising.
All trees have received some good changes.
BM tree:
Masters call might be useful in both PvP and PvE. In PvE this will help in cases when mob snares(freezes) tank and goes for rest of party, like litches(forgot name) in Karazhan.
Invigoration + Cobra strikes removes need to use mana potions, stack haste potions now

.
Longevity equally powerful in PvE and PvP.
Best point from Aspect mastery is not buff to Aspect of Hawk, but to Aspect of Monkey. This may give hunters "ranged tank" role that was reserved to soullink warlocks until now.
Best Mastery (exotic pet) talent we need to see in game. This may open some more pet families, and we need to see in game how additional pet skill (talent?) points fit.
Talents that are left unchanged and useless : pathfinding, improved aspect of monkey.
MM tree:
This tree changed most and this was required. Until now 20 talents in MM where a must in any raiding spec. Now minimum requirement is 10 points (lethal+mortal shots).
In middle of tree Concussive Barrage is changed to work with Volley too, but I doubt that 6% chance of daze is of any use in PvE or PvP. If changed to 100% daze from Volley, this talent might be useful in some situations.
I do like changes in lower part of tree, but only change on higher talents that I like is Chimaera shot when used with scorpid sting. It is mirror ability to priest pain suppression.
Overall MM looks improved as PvP tree.
Survival tree:
Improved tracking <3, change that was in about every hunter wishes tree.
Trap mastery removed(in notes, but not from calc), not needed anymore because +hit now works with traps too.
Master tactician at last is improved to match Lethal Shots in efficiency.
Point of no escape looks promising on both trash fights and may be boss fights if frost trap will add this effect to bosses(even if they are immune to slow effect).
Hunting Party, hunters as improved shadow priests ?

Sniper Training, very promising talent, but we have to see if we will have to run to bosses to trap them every 26 seconds

Explosive shot looks like improved Multishot with no target count cap, but smaller radius.
Survival will be tree of PvE love and will compete with BM.
Only Potent Venom does look doubtful to me, but still it may be included in shot rotation.
In my opinion BM may need one more party wide buff like FI is now, but both BM and Survival are very good PvE trees. This party/raid buff may come from new pet abilities, so we need to see now this will work in game.
PvP:
At same time I am not sure how much hunter problems in PvP will be solved.
Focused Aim, Masters Call addresses some, while not changing mechanics of PvP combat. But we probably will see more improvements until WotLK.