Well, according to the fine print on the rulebooks it will be distrubuted in the US (when, who knows ... a search of Hasbro's site reveals nothing).
It's a board/card game (with funny dice, lots of markers/tokens, and some cheap plastic figures). It seems to capture the basic flavor of D&D well for a boardgame (better than Dungeon! did, at any rate). It's competitive, for those who can't play a game without winning; the DM "wins" if he keeps the "heroes" from completing their adventure.
It isn't really roleplaying, or a rules-lite intro to D&D, but it's probably a good stepping stone from boardgames to some rules-lite version (like the D&D Adventure Game, or D&D First Challenge, if that ever gets released) that will push more traditional D&D and sell player's handbooks.
It does look like it'll be a nicely replayable game for families, particularly with younger children.