Search is different in the new version but I think better. Type in your search word or phrase and notice that you'll see some finds drop down from the search box in real time. Select one of those. You'll now see some blue text in front of that criteria.
For example, I might want an email I received from Steve Jobs about the poker winnings he owes me. I'd type Jobs and lots of things would drop down including people with the name containing jobs, subjects that contain jobs, and message text that contains jobs. I select Steve Jobs. Now in the text box I'd see:
From: Steve Jobs
And the cursor is still in the search box. Now I type Poker and from the drop down list select Your Poker Winnings. Now in the search text box I'd see:
From: Steve Jobs Subject: Your Poker Winnings.
Over on the left side of the ToolBar I can still select where to search: Sent, All, InBox etc. If that hasn't winnowed the my list I can type in more search criteria.