It's in open beta.
Interesting feature:Q: What is Neverwinter?
Neverwinter is a free, action MMORPG based on the acclaimed Dungeons & Dragons fantasy roleplaying game. Epic stories, action combat and classic roleplaying await those heroes courageous enough to enter the fantastic world of Neverwinter!
Explore and defend one of the most beloved cities from the Dungeons & Dragons Forgotten Realms Campaign Setting as it rises from the ashes of destruction. This immersive MMORPG will take you from the besieged walls of the city to subterranean passageways in search of forgotten secrets and lost treasure.
Gameplay: http://www.youtube.com/watch?v=e5dsZhLHPeQQ: Will I be able to make my own adventures and play through them with my friends?
Yes! It wouldn't be a true Neverwinter game without a content-creation tool! Players will be able to shape and add to the world of Neverwinter by creating and building their own adventures or full-fledged campaigns from the ground up using The Foundry for Neverwinter.
Q: What is The Foundry?
The Foundry for Neverwinter is your chance to craft the world of Neverwinter your way. A robust and powerful toolset, you can use The Foundry for Neverwinter to create and build new adventures and campaigns to share with your friends and the entire Neverwinter community. Learn more by visiting The Foundry info page.
Gameplay seems especially interesting because it's not like most mmo's, so no tab targeting and pressing the skill buttons. You have to aim and move around. I haven't played yet so can't share any first impressions. Download is completing soon, so I'm about to play.