I'm not quite sure what I expected Matt Smith's incarnation of the Doctor to look like, but I certainly expected something a bit quirkier and edgier than this.
I can't really see the Grand Moff making the Doctor in any way boring, but I am not enamoured with the colour scheme or the general approach of making a good looking young man look like an aging professor. It doesn't give him gravitas - it just looks odd. And that hairstyle is just wrong.
However, I'm sure the scripts will be marvellous and it'll all be fine - and if necessary, Karen Gillan can find something a bit funkier in the back of the Tardis for him to wear.