It's been 17 months since the last release of Adobe DE, and I had long since given up hope. But on Monday Adobe quietly released a preview copy of the next version of Adobe Digital Edition. It's not complete, so you might want to wait for the official release.
They only announced it today, and I just downloaded it. It really looks good. The old disgustingly ugly interface is gone, and Adobe DE now looks something like NookStudy. It still has diddly-squat for reading options, though. You can bookmark a page and that's it. But on the upside it now supports ebooks from B&N as well as some new accessibility features.
I'm not sure that it's even worth downloading; it doesn't compare well to NookStudy. I've written about NookStudy in the past and I've called it the most feature rich reading app for Windows (it is!). Adobe DE is now a poor copy of the best app and it does far less.
P.S. If you don't want to actually download it, you can read about the new features in this Epub.