As stated, the readability increases dramatically (indentation is the keyword here). Your argument was strong when programmers didn't use IDEs but pure txt-editors. But nowadays with a proper IDE you get the opening and closing bracket highlighted(!). That + the intendation is enough to make any code readable very beautifully.
And the main disadvantage of the new line style (did I already say that i hate it?^^) is that it triples(!!!) in most cases the length of the function. Totally nonsense in my opionion. Some (usually not very well written) functions can even extend the height of the screen, and there you are happy if no nonsense-lines are added

Example:

(good)

# 7 lines
if ($varX) {
	$this->foo();
} elseif($varY) {
	$this->bar();
} else {
	$this->end();
}

(bad)

# 12 lines
if ($varX)
{
	$this->foo();
}
elseif ($varY)
{
	$this->bar();
}
else
{
	$this->end();
}

To emphasize for all those souls that are lost on the wrong path here:
The closing bracket is on the same vertical alignment as the condition/text that started it.
Thats about all that is needed.

I wonder what your reasons are for doing this, because you didn't post an explanation for this opinion. Just wondering…

Great blog by the way!