I hadn't heard about this before; I'm clearly out of the loop these days. With buy-in from smart people at Webkit and Mozilla, I've got to assume that it really will be an improvement over the status quo.
But, boy, it feels awkward at first sight. To my eye, it's weird to see what is essentially a low-level optimization instruction as part of CSS (which is usually all about presentation rather than implementation). Also, the article makes it clear that there are a lot of ways that people could mistakenly use this property in unhelpful ways. And I'm still not entirely clear on what they mean by "It’s not possible to remove will-change if it is declared in the style sheet": is this really a CSS property that can be turned on without scripting but never turned off without it? That makes me uncomfortable.
So why isn't this a case where we just need browsers to get smarter? In the same sense that an optimizing compiler can in most cases produce better performance than a human writing machine code by hand realistically could, can't we expect browsers to gradually get better and better at spotting these rendering optimizations? (To take an example from the article, couldn't the browser recognize that there's a transform rule for :active and automatically enable something equivalent to will-change for :hover itself?)