Morrus talks about it more here, better than I could, but it's an interesting beast: a more conventional OGL/SRD for the usual stuff, and a special online publishing arrangement through WotC that lets you use IP-infused content for Forgotten Realms on their website. Funky and blows my prediction last week to tiny bits!
Here's where the new OGL and SRD is.
Wow.
Suddenly this year got a lot more interesting!!!
UPDATE: having had a chance to look at http://www.dmsguild.com/ I think it is official: D&D has been crowdsourced, big time. I don't know if it's a good thing or not, but it's definitely a new turn of direction, that's for sure. We're going to see a lot of weird stuff from here on out.
UPDATE 2: I've had a chance to browse through the OGL and SRD a bit. Of note is that while it's more complete than the free D&D Basic stuff, each race and class is still limited to one key option....so fighters still only have a champion option, for example...warlocks are only offered a fiend pact. I'm unclear on where this places use of the SRD to create content that wants to use the additional options in the printed books; iirc this was something that D20 licensees dealt with a lot in the 3.0 era, but the work-around was to go full OGL.
I did not expect that... really didn't.
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