I was able to play S. Naoto quite a bit on and off stream- sadly they took down the archives, so if you missed them you can't watch them anymore. Anyway, Neo is definitely correct with how great her 2B is now, it stuffed a lot of obnoxious jump-ins and characters are definitely forced to be wary of her anti- airing options now. I messed around with Venom Zapper a bit in neutral and it's a great tool, but whiffing it leaves something to be desired, so be careful when throwing it out.
I also agree with the bullet meter- while annoying, it's easily managable and, since you'll usually want to use them in combos anyway, by the time nuetral is reset you'll have your bullets back. Just make sure to pay attention to your bar and don't throw out the gun when you have no bullets lol.
Her IAD combos are definitely trickier now, so I tended to avoid them completely unless I noticed they were CH by one of her traps because most of her other starters would cause IAD combos to drop. Also, important note is that 5c> B double fangs will sometimes not combo even in the corner, so it's important to do 5c>2c>B double fangs since 2c is special cancelable now (not to mention the extra fate taken is always nice).
About the trap recovery, however, it's definitely noticeable and I gotta say I strongly dislike it, but it is manageable because green traps can't be destroyed by air moves anymore, so when characters like Chie and Labrys tried to run in my face like morons they were forced in to blockstun by the traps and had to suffer my mixup which was fantastic. Sadly, spamming traps is a bit harder now because some fast characters can easily hit you out of it if you do a trap to close to them.
Personally, I think S.Naoto is much scarier because although the playstyle is pretty different from regular characters, Shadow Berserk Mode (SBM) gives Naoto so many extra options such as 2 SB gun supers in to Hama mixup full screen off of nearly anything and the meter gain is definitely appreciated for Naoto's playstyle.
The timing on some of Denpa's SBM combos, however, are definitely tricky than they seem. I've been testing with Diarmud and while our original idea was air B fang> air a fang> land> a fang. I confirmed this does not worked because Naoto still goes in to the gun stance even while in SBM. He then gave me the idea to test air B fang> air a fang> TK a fang, which seems correct, but I didn't get to confirm it because my TK's stink and since the stations were "winner stays" I went for simpler things to ensure I won as much as possible lol.
So far I love the changes besides the trap recovery (even the gun meter doesn't bother me), but I think that's it. If I missed anything, or you're wondering just ask.