I love the theme, it's vintage, don't change any of the images and etc.
A few things bug me about the layout; footer, the user 'panel' on the top right, and the space between the breadcrums and OP.
[slide]http://i.imgur.com/dSg6s.png[/slide]
You can clean this up to make it look nicer, have the standardized vBulletin crap on the left, and the site links on the right in a nice list.
[slide]http://i.imgur.com/WElTH.png[/slide]
This just looks so clustered.
[slide]http://i.imgur.com/HJKoj.png[/slide]
And this is worse than it was before. Have the threads and posts in a dropdown instead of crunching it in there like that.