Ye gods this looks really interesting. I caught this over at a few indie sites. Check out the slideshow:
http://sleepisdeath.net/
If there is anything to suggest the adventure genre is evolving, this is probably it.

Interesting concept. I don't usually like the games that Jason Rohrer makes, but he does have unique concepts. This one looks particularly unusual and worth trying simply for the innovation.
Apparently, there is a manifesto that Jason Rohrer wrote that relates to why this game is designed the way it is:
1. Games do not have spoilers
2. Games cannot be finished
3. Games do not have characters, except for the characters who play them.
4. Games do not have stories, except for the stories that players tell through them.
5. Playing a new game is less like reading a new story, hearing a new song, or seeing a new film.
6. Playing a new game is more like learning a new language
7. Games are interfaces, not between minds and content, but between minds.
http://www.flickr.com/photos/rich_lem/4336377603/

It is nice and I am sort-of considering getting it but the problem is that it's heavily dependent on the second player and having a good dynamic between the "dungeon master" and the player; if that's not happening it's going to flop.
For now I don't really have anyone to play it with so I'm waiting a bit more until I get it.

If anyone from GOG wants to get it, let me know. I'm likely to get it myself.

Isn't that basically how Second Life and a lot of other social-games work? People make generic props, and everyone uses them? Only difference is that you have a dedicated prop-placer.
Looks interesting, but not my cup of tea. I do wonder how long until this becomes an "Adult" game though :p

I'm thinking about it. Apparently, if you pre order you get two copies.

No, no matter when you buy the game you get two copies; the only advantage of pre-ordering is the cheaper price ($9 instead of $14) and the fact that you get the game earlier (April 9th instead of April 16).
I'm thinking about getting this and doing some interactive fiction with the girlfriend as it could prove a way nicer way of creating it than just text.
Later Edit: I'm waiting for the more detailed video before deciding to buy this or not as I need the game master editor to be easy to use as well as flexible.

Ah, thanks for clearing that up.

Hmm sounds like quite an idea. I might try to convince some of my female friends to get this too. Good for building rapport.

So... it's like a two-player P&P RPG. Except without combat, or plot development, or... huh.
It's an interesting idea, but it's not a game, and I can't really see this having much longevity.

See, that's what I thought at first but then I decided to take it as interactive fiction with the added benefit of having graphics attached and if you're into that and have someone to share it with the game is worth it.

I might do an interview with Jason Rohrer, the developer, and clear some things out regarding the game. If it's certain that the interview will take place I'll take question suggestions from here as well.

I bought it for some reason. Hope it's good.

I'm going to get my hands on a review copy before the release so I'll let you know what my opinions are; as a warning though, I'll be mostly looking at this from the Interactive Fiction perspective and not as a game in the true sense of the word.

Cool man, love to hear about it.