J Lo: Look at the bottom left corner of the screen when you swap weapons. Each gun has an animation that shows it unfolding.
wolfsite: I also notice that the weapons in ME1 seem to have more tweaks to them such as a rate of fire change and such.
I like this change too. It's my favourite so far. Keep in mind that the equipment menu shows weapon output as DPS instead of damage (except for 'nades). An example of where this matters is snipers. The hammer has higher DPS than the avenger because of its RoF. But if you want to kill an enemy in one shot, the avenger is the better weapon.