Aloha LB,

I'm working my way through this change, too, hunting down all the 
places I've modified org-structure-template-alist.  You'll need to get 
rid of the templates you've added to this list.  The new function won't 
run if it finds an old-style template on the list.

Once the list is clean, the new function offers the possibility of 
selecting some text, then hitting C-c C-, and choosing a structure that 
encloses the selected text.  This is quite handy.

I had a number of one-line templates that I haven't figured out how to 
replace yet.  Any suggestions are welcome.

hth,
Tom