I was playing with it and it is indeed a nerf. The shield console is now about 1/3 as effective as the original (or less). On the plus side, they ARE stackable. I don't know where they got the idea that it wasn't a nerf. A blanket 35% increase to your shield hp is way better then a 35 point increase in shield systems skills. If there is no diminishing increase in the skill increases from the consoles, then the skills themselves have a rule of diminishing returns.
It does not really make sense to me to nerf everything that players may otherwise max. This makes playstyle more generic and eliminates any strategy that would otherwise be involved.
On another note though, there wasn't really any unique strategy when everyone in pvp had one of these consoles. Now atleast you may need to sacrifice something to max your shields.
The change to the consoles to me actually is a benefit none of the existing sci consoles have ever really been of any use to me in my defiant (i slot the uni borg console and a hazard emitter console) now i can move my shield console into sci and replace the hazard one and free up a engineering console for some armor i actually think this is kind of usefully across all my toons.
but i'll wait and see before making final judgement.