Reading this article on Bing's redesign you get the impression Google are on the out. Nobody points out that the entire things seems to rely on IE9 and probably won't work anywhere near as well in anything else either.
According to the September stats, Google still owns 66% of the search market, and increased its share. Bing has just over 11%. So it doesn't matter what Bing does, they own a tiny piece of the pie and Google still rules the roost by a mile.
Personally, I don't like Bing's design, I find the pictures distracting, it doesn't have time-based filtering (which I use a lot) and, most importantly, their results aren't as good.
So let's not get too up in the air about this supposed revolution, when Yahoo are beating you you need to look at improving a lot more than the looks.