New information is out, and it...looks like a mixed bag, honestly, in every interpretation of that phrase:
http://www.bleedingcool.com/2011/06/10/those-52-issue-one-solicitations-in-full/First off, whoever designed Supergirl's costume needs to have a sit-down with Jim Lee, because he managed to take all the crappy details of the Superman redesign and turn it into something that doesn't look like it was drawn during middle school study hall. I mean, the bare thighs (and knees) are awkward, and I blush a bit seeing the pentagon in the nether-regions, but it's otherwise a nice-looking outline. On the other hand, another article I saw showed the George Perez Superman which...actually manages to look worse than the Jim Lee version. Sheesh.
Second, it looks like there's indeed a reboot, based on the various references to a sudden growing presence of superbeings, a few "old" characters who appear to be completely new, and the smattering of Wildstorm.
On the other hand, a lot of other titles reek of tangled continuity, like four human Green Lanterns in various positions throughout the Corps and Batman Incorporated.
Things that strike me as particularly good moves include an Aquaman who's not an Atlantean king (though I'd prefer it retroactive), a Wonder Woman whose role is to protect us from the gods, a showcase book (DCU Presents), scrapping and restarting Hawkman as something more modern, and the first time I've ever seen a Black Canary story sound interesting. That's not to mention making some actual use of the Milestone, Charlton, and Quality IP in the forms of Static, Captain Atom, Blue Beetle, and the Blackhawks.
The Legion books also sound surprisingly interesting. And breaking down the walls of the Vertigo Ghetto is nice, too, even if it does sound like it's spawning another "team of grumpy loners" book.
The bad includes Batman overload (eleven titles? That's more than a fifth of them!) with what seems to be maintaining the very tangled continuity they wanted to avoid, the conspicuous retention of outdated and boring characters like Nightwing, Deathstroke, and (ugh) Harley Quinn (note: All Batman-franchise characters, no less), a lot of anti-heroes and criminal heroes (Green Arrow, Grifter, the Titans, Red Lanterns), and a little too heavy a reliance on "fan favorite" writers. I don't begrudge anybody enjoying Grant Morrison, Tony Bedard, or Gail Simone, but I don't think any of them has mainstream the appeal DC needs.
Given the lack of JSA/Marvel Family presence (with the exception of Mr. Terrific), I'm guessing the Golden Age has been exiled to a new Earth-2, which has its good points and bad.
Overall, though, it looks like it's not the terrible effort I was expecting. As I said, I would've liked to see some more diversity among the "big guns" (no, Cyborg doesn't count), both in terms of ethnicity and company origins, but it still looks like a better starting point than Crisis or Zero Hour left the readers with.