Ok I'm an MMORPG player for a few years here so let me clarify...
Alpha Testing...very limited and usually choppy game play used to fix major bugs/gliches in the game
Beta Testing...usually has 2 stages Closed & Open which occur in the order
Closed Beta...Like Alpha testing but with more game play(game world) revealed and not quite so glichy
Open Beta...usually almost entirely the finial Game, still a few small bugs in the programming but for the most part its just a preview of the game.
Okay and as for information on the game (this is just from what I've heard and read) The game will be in world of Ebberon, not sure why they chose that one but what ever, Core Classes and Races only, not sure if the characters/Mobs will have the Ebberon stats, not sure about reglion as of right now. What screen shots & Vids (supposedly gameplay althoughcould be CGIed) look great...hope you have a good Video Card, I suggest one with at least 128k RAM on board but recommend one with 256RAM, NVidia GeForce 5700 LE with 256k RAM just dropped to ~ $100 for anyone that needs to upgrade. I'll post more info as I get it. And again I can't say for sure that the info here is 100% accurate.