Raghu just posted an interesting article asking the question "Does EJB 3.0 really make application development easy?".
So as you will see EJB 3.0 does simplify the development by reducing the number of source and descriptor files that you have to manipulate. (I won't go in the detail of the number of lines of Java or XML). What I really like about EJB 3.0 is not only the fact that Entity bean are POJOs, but also that now you can read the code and understand how the application is build, thanks to the annotations! I am sure that if you got the EJB 2.x genes you do not find them complex, but I did not have this mutation...
I am inviting you to download the Oracle EJB 3.0 Developer Preview to be more familiar with this technology.