I haven’t dug in or really played with it – the room was “standing room only” and I was standing. But I watched a few people dork around with it and they gave a quick demo. At the moment, it’s an open subversion repository (100Mb quota) and a free-text, tagged up issue tracking system. They said the inspiration partially came from my favorite – Trac – the simplicity at it’s core – but they of course took it further. The subversion repository is based on their BigTable technology, and there’s still some unanswered tidbits (like how to get a backup of the entire repository with an svndump).
The issue tracking system is all tag based, and of course the suspicion is that tag-based systems will resolve down to utter chaos. It’ll be interesting to see if the “encouragement” up front of what tags should be used will help keep that in check.
They’ve also gone to some lengths to hook up with SourceForge to reserve names of current open source projects.