Problem-Based Learning (PBL) has often been seen as an all-or-nothing approach, difficult to apply in traditional curricula based on traditional lectured courses with exercise and lab sessions. Aalborg University has since its creation in 1974 practiced PBL in all subjects, including computer science and software engineering, following a model that has become known as the Aalborg Model. Following a strategic decision in 2009, the Aalborg Model has been reshaped. We first report on the software engineering program as it was in the old Aalborg Model. We analyze the programme wrt competence levels according to Bloom's taxonomy and compare it with the expected skills and competencies for an engineer passing a general software engineering 4-year program with an additional 4 years of experience as defined in the IEEE Software Engineering Body of Knowledge (SWEBOK) [Abran et al. 2004]. We also compare with the Graduate Software Engineering 2009 Curriculum Guidelines for Graduate Degree Programmes in Software Engineering (GSwE2009) [Pyster 2009]. We then describe the new curriculum and draw some preliminary conclusions based on analyzing the curriculum according to Bloom's taxonomy and the results of running the program for 2 years. As the new program is structured to be compliant with the Bologna Process and thus presents all activities in multipla of 5 European Credit Transfer System points, we envision that elements of the program could be used in more traditional curricula. This should be especially easy for programs also complying with the Bologna Process.