No way, the new nav is infinitly better...
Open on click: docs.telerik.com/.../menu
1) Better markup
3) No hardcoded skins
5) You can pre-create multiple templates for your editors to use w/out needing to modify anything.
You do have the option to use the old menu as well, if it's not in the toolbox (might be there just not "enabled") you can just add it back.
The old menu wasn't even 1/4 as configurable as this is...
I agree with Richard