I have the new formula and I get a fantastic lather with it, both in hard and soft water. I find Proraso to be virtually fool-proof.
To the OP, if all you did was load and then work your brush on your face for 30 seconds then you will have lousy lather; you would with any soap using it that way. You need to build the lather on your face. Dip the tips of the brush in the water a couple of times adding water to the lather on your face. Spend a minute or two actually building lather on your face and you'll have more lather than you know what to do with. Your trouble is you're not adding enough water to your lather after you've loaded your brush.
TOFLAC-U, AOM, LEMS/ Stay back! I have a Merkur, and I know how to use it!