Lewis Hamilton described the W08 as the "the most detailed piece of machinery" he has seen in Formula One when Mercedes unveiled their new car on Thursday.
Hamilton took the constructors champions' 2017 model for a spin at Silverstone, with his new team-mate Valtteri Bottas getting behind the wheel later in the day.
Three-time world champion Hamilton will be counting on the latest Silver Arrow, which is wider and lower than last year with tight rear-end packaging, to regain the title he lost to now-retired Nico Rosberg in 2016.
The W08 also has a smaller fin on the engine cover than the cars launched by rival Formula One teams this week, with revised regulations coming into effect this year.
Hamilton said: "It felt incredible. Firstly, very proud to continue with this team.
"Yesterday was the first time seeing the car coming together, it's the most detailed piece of machinery I've seen so far in Formula One. Today I got to drive, it felt pretty awesome."
Mercedes head of motorsport Toto Wolff said: "In terms of relative performance, it's clear that any rule change brings with it a big reset but also a big opportunity,
"This is the time to stay humble and keep our feet on the ground. None of the teams has raced under these rules and we all have the same points right now: zero.
"But the dominant feeling in the team right now is one of excitement - the factory is buzzing with anticipation. It has been a really motivating challenge to develop a brand new car concept and I have never seen our determination to succeed higher than it is right now."