I also think the new depth system is quite unmanageable. Our GUI is composed of 1000 of Widget layered in 5 to 6 layers. It is unthinkable to manage those individually by setting a depth that can only be used once. I get it, that having a dual system with z and depth was confusing, but I think that going with depth was a mistake. The good thing about the z was that it had a local / global component, you could set the localPosition.z of a widget/panel/gameObject and it would impact the z order of its children. This would make it possible to fix z order at a local scale while having nearly no effect on anything on the global scale.
Now, there is no way to organize the depth of widget by grouping them. GameObjects and panels don't have depth.
I know that it is frowned upon to talk about Flash in a Unity forum (

), but the Flash's Display List is pretty awesome. It does away with the numbering of layers and insures that no two visual items are on the same layer. It uses a tree structure (much like the hierarchy) to order layers.
If we could have some way to organize widgets, have some base depth that we can set on a panel I think it could work. Otherwise it is just too tedious. We need to break the big problem of organizing depth into smaller ones so that we can wrap our mind around it.
Anyway, I'm just saying, what do I know I have just been doing UI for the past 8 years.