In the 1.8 snapshots, (or maybe even in 1.7, I cant remember now), teleportation became seamless. However, in the newest snapshots, teleportation is like in the previous versions of minecraft.

Just to compare, this is what it looks like now. Sometimes it works, but most of the time you can see when you were teleported.

14w32d: https://www.youtube.com/watch?v=BwXiSYpv9-E
14w30c: https://www.youtube.com/watch?v=ZvCL9UpKjxY