Looks ok, they apparently use the same engine as Fallout 3.
I'd apply for the beta, but it appears they REQUIRE quite a bit of information that I, and I am sure many others, don't want to give them.
First and last name, address, zip code, city, state, country, age, continent, gender, email, forum username... some of those are too much.

I need some actual screenshots / videos to get even the least bit excited, as I would think these guys are going to go P2P with this, as most new indie games, especially with the FO3 engine, are going. It'll fail within the first year and then it'll bomb and disappear forever.

Ah well.