I really can't get enthused about this.
I mean, if it were three or four years ago this would have been a dream come true but as of 2009 this is remarkably unappealing. For one thing, what happened to the Ultimate Universe might have ruined that approach for me, but I think it goes beyond that. It's been almost ten years since Marvel created the Ultimate line. As in a decade. There's something about the idea of reimagining characters and giving them snazzy new costumes with lots of new seams and pouches that just feels terribly outdated. There was a time when this kind of thing would have been very exciting but it feels like DC slept on doing their answer to the Ultimate line for way too long and now it's just kind of pointless. I've already seen some kind of 'Ultimate Superman' conceptualized a dozen times and Christopher Nolan has basically given us two excellent films of 'Ultimate Batman'. In fact, it's pretty much inevitable that Earth One Batman will just feel like the comic adaptation of the movies.
When I think of what's fresh and interesting in superhero comics in the last couple of years what I think of isn't the 'Ultimate' approach, it's actually sort of the opposite: Grant Morrison's work on Batman and All-Star Superman, Rucka and JHWIII's Detective Comics. Stuff that plays more off of the colorful, kinetic nature of superhero comics instead of clumsily trying to make them believable and 'gritty'. Earth One just doesn't look as interesting.