The wallet now opens on the Overview tab, with Send, Trade and Trust Lines alongside it and your r-address shown in the header next to a green connection indicator.
A fresh address is not yet an on-ledger account, so the client displays a notice asking you to send the base reserve — 20 XRP in this build — to your own address. Until that payment is validated the balance line reads 0 and no transaction can be signed.
Send the reserve plus whatever you intend to hold from an exchange or another wallet, using the exact address and a destination tag only if the sender requires one. The notice disappears within seconds of the funding transaction being validated.
From there, Balance lists XRP and any issued assets, History shows each transaction with its hash and result code, Contacts stores addresses you reuse, and the gear icon holds the rippled node settings.