Edit: Sorry to respond to my own post, but after having a friend advise me of how it could be easier to import bookmarks, I will admit I was overly harsh and backstep here.
The new Speed Dial is fine and the synergy between the Bookmarks file and the Speed Dial is pretty good once I moved all the bookmarks that I had saved on the Speed Dial to the new Bookmarks.
Like that the new Bookmarks has snapshots of the pages like the old Speed Dial, it makes it MUCH easier to tell when a link has gone dead if it looks on occasion to make sure that the page is still up.