No, sorry, WotC has never put out an edition where you could buy the game at 2 pm, read all the rules from 3 to 5 pm (if you are a slow reader), and then run a game at 7 pm that same night. WotC D&D is in the AD&D lineage, and perforce not as simplified and easy to pick-up and play as Red Box/Black Box D&D. Moldvay/Cook is 128 pages, and that's it, with monsters, spells, and a sample dungeon. No core three set has ever been that simple.What they are proposing isn't new at all, in fact, it never skipped an edition. If you wanted to keep it simple, you just used the core three and you were good. All editions were simplified, it was adding additional material that could make it complex. They don't really need to waste time creating a separate product that does this.
Granted, at today's prices that'd probably be $40 or more - likely more as it'd have a lot more color and fancy typesetting.
Also, didn't the RC have the Paladin, Knight and Avenger fighter subclasses, as intro'ed in the Companion rules? I don't have my copy handy to check.
WotC REALLY needs to get away from the $100 starting price.
I wonder if they'll seriously consider a 1-book solution for their Core product like many other RPGs do.
To some extent, I think one of the decisions in the 4th Edition Legend of the Five Rings core rule book is a model to follow: segment the core book logically: core player rules, dm-specific rules, optional expanded rules features. (Just the segmentation model. Goodness, don't follow their skill list model!)
Good candidates for optional expanded Core Rules in the first book: grid combat, expanded spell lists, maneuvers and skill-tricks, specialties. I'm not saying backgrounds shouldn't be an option to remove either, I just think rudimentary character backgrounds should be a default presentation for new players.
- Marty Lund
Even of the low-level games I've played, you don't have to be hardcore to want to play a game that isn't die-cast from LOTR.
I mean really is that all we want from DDN? Humans, Elves, Dwarves and Halflings; Fighters, Rogues, Clerics and Wizards; 10 levels; some orcs and goblins?
We aren't interested in this diverse, creative, entertaining product that has created amazing fantasy worlds with much more than LOTR tropes? We aren't interested in gnomes or bards anymore? I didn't realize that mystical musicians were such an outlandish fantasy concept! You'll have to pardon my flabberghastedness here, but really? That's IT?
/snip
WotC REALLY needs to get away from the $100 starting price.
Why?
I love board games. I do. And, once you get away from stuff like Monopoly, most board games are starting in around 50 bucks or more. It's really not terribly unusual to see board games clocking in at the hundred buck line for some.
A boxed set along the lines of Eclipse would be fantastic. Lots of toys, visually gorgeous, and high quality.
I don't think we need to be that shy about price points anymore. Board games have shown that the 50-100 dollar price point sells pretty well.
Its not a bad price point for a enthusiast. Its a helluva price point for a Christmas present.

(Dungeons & Dragons)
Rulebook featuring "high magic" options, including a host of new spells.