I'm pretty sure the chemistry test is exactly the same as the old compatibility test, except for it's name and how you view the matches generated by the test. Instead of seeing a percentage for overall compatibility you get to choose whether each of the attributes are more or less important to you in order to whittle down the results.
I agree, besides am i missing something or is thee just like 5 little questions with three options each to determine my "chemistry" ?
Those aren't the questions in the test. They're the options for filtering the matches generated by the test.