I stopped using reddit when the .compact interface was removed. No I go back once in a while but if this goes through I will probably simply never visit.
You can still use old.reddit.com, which is vastly superior and faster than the modern reddit. It also loads videos and images inline (when you click for them to load) and it de-emphasizes comments. This allows you to work like the compact feed where you scroll through posts and only go into comments sections if you _really_ want to. It is a good alternative.
It's funny because I also sing the praises of old.reddit.com but would describe it/my preferences in a totally different manner. My preference would be for reddit to be as close to HN in UI format as possible, perhaps with some minor thumbnails for visual content.
What I like about the old UI is that I find it emphasizes the post titles instead of content. I *don't* feel inundated with images & videos, besides the little thumbnail. I usually just want to skim titles, not look at visual content, and I find that impossible in the new UI. And I find that it's easier to get at/see the comments than in the new UI.