Google has been testing a new design for Google Alerts and now it seems the new look is live.
The functionality of what and where you subscribe to things have not changed but the user interface to do so has changed drastically. Google Alerts now shows you suggestions on what else you may be interested in subscribing to and also shows you a preview of what the alerts may look like.
Here is the old version:
The new Google Alerts mains screen:
To manage the alerts:
I can see this new interface simplifying to the average user what these alerts are all about and increase adoption rate of this use.
Forum discussion at Google+.