1.4DL + 1.7LL or 1.2DL + 1.6LL ?

For designers like me who were trapped in the past (used to using the old codes), the
introduction of new and smaller load factors might be quite hard to accept. In school, we
were taught to use 1.4DL + 1.7LL in calculating the ultimate load involving basic dead
and live loads. However in the latest NSCP which was released a few years ago, the
new load factors are smaller - 1.2DL + 1.6LL.

Below is the table showing the comparison of the new and old codes:

Where:

D  =  dead load
E =  earthquake load 
F  =  load due to fluids
H =  load due to lateral pressure of soil and water in soil
L  = live load, except roof live load, including any permitted live load reduction
Lr  =  roof live load , including any permitted live load reduction
R  =  rain load on the undef1ected roof
T  =  self-straining force and effects arising from contraction or expansion resulting from
temperature change, shrinkage, moisture change, creep in component materials, movement
due to differential settlement, or combinations thereof .
W  =  load due to wind  pressure
f1 =  1.0 for floors in places of public assembly, for live loads in excess of 4.8 kPa, and for
garage live load.
=  0.5 for other live loads
Em = the maximum effect of horizontal and vertical forces as set forth in Section 208.6.1