A new launcher was released today. Unfortunately it doesn't work.
The new launcher takes forever to load and hangs often. When it does load it just loads up with the following message displayed:
You are seeing this because no connection could be made to the content server or something went wrong while loading the online content
Supposedly this is due to a server side timeout error when attempting to connect to the web servers.
In addition many of those who can log in have been experiencing a mass local settings reset problem caused by incorrect paths in the new launcher.
More info on the problem here
And this forum post contains instructions from the devs for a workaround to load the game client without going through the launcher.
1) Locate the folder where you installed EVE. If you are not sure where that folder is, see http://wiki.eveonline.com/en/wiki/EVE_default_directories
2) From the EVE installation folder, open the folder called “bin” and there you will find the ExeFile.exe
3) Run this ExeFile.exe to start the EVE Online client
Note: I did the above, the game launched and notified me of an update which I then installed. The install failed during initialization so I ran repair.exe (in the main Eve folder) next. Repair.exe ran for several minutes but in the end it also reported failure with the error "WindowsError: [Error 5] Access is denied: 'C:\\Program Files\\CCP\\EVE\\launcher\\launcher.exe'".
However since the error was at the end of the repair process and involved Launcher I tried running ExeFile.exe again and it worked fine. I logged in, didn't lose any settings and haven't noticed any other problems either.