If you haven't lived in a barrel, you should know by now that a new version of Google Tag Manager has been released. You can find the new version at http://tagmanager.google.com/, and there's already a bunch of good articles about the new UI out there. I want to point out two: “Setting up GA via GTM's new UX” by Krista Seiden, and “Google Tag Manager Refresh – 6 Things You Need to Know” by Jonathan Weber from Bounteous.
In the new version of Google Tag Manager, auto-event tracking has received a considerable usability upgrade. It might seem quirky at first, especially if you're used to the old auto-event tracking method, but the logic behind the new setup is brilliant. The most important distinction is that auto-event tracking isn't something you control with separate tags anymore. Rather, it's now entirely trigger-driven, meaning you activate and specify the auto-event tracking of your choice using tag triggers (triggers are what ye olde folk used to call rules).