I meant, does the question "What's new?" sound ok to your English ears
It sounds just fine. It's not passe or anything. More common than the people on this thread will allow.

I'd just shy away from using the expression if you're greeting someone you see on a daily basis, that is, unless you use it consistently, whereby it loses its punch. As a non-native speaker, however, I'd say you'd be wise to use "what's up" or "what's happenin" with every-day acquaintances. It's just that, if someone uses "what's new" with people they see every day, it's likely a style-choice that'll have little credibility coming from a non-native speaker who, as we unconsciously assume, has probably no understanding of the typical pragmatic meaning of the phrase (a significant period of time has elapsed since we last met) in which case the non-native sounds a bit unnatural and mistaken.

But if you only see someone twice a week or less, and you're on respectful terms with them (i.e., no "what's crackin, ass slappin?") it'd actually be more appropriate to say "what's new," since there's probably new stuff to fill you in on...depending on intonation, in such a case, "wazzup" could actually be quite snubbing.

So, someone you see everyday: "Wazzup, beancup?"

If you haven't seen someone for a couple of days or more or any perceived significant period of time: "Wazz new, Donkey Poo?"