So it's now free for the public to give it a go. If you want to test it out, make sure you download it within the next 48 hours. You'll need GFWL (and a Live account) to play. From Eurogamer:

An Age of Empires Online beta is open to all for the next 48 hours or so, developer Gas Powered Games has announced.

You've got until 9.00am on Saturday to download the beta from Games For Windows, though play continues past that date.

The system requirements are reasonably modest:

• System Memory: 1 GB for Windows XP SP 3/Windows Vista Home; 1.5 GB fo Windows Vista Premium/Windows Vista Ultimate/Windows 7 (32 bit); 2.5 GB for Windows 7 (64 bit)
• Operating System: Windows XP Service Pack 3, Windows Vista or Windows 7
• CPU: 2 GHz Dual Core or higher
• Video Memory: 128 MB Shader 2 supported card or higher
• Internet: Broadband connection required

Due for full release later this year, the free-to-play MMO is the first entry proper in the long-running RTS series since Age of Empires III: The Asian Dynasties back in 2007.

I've been in the closed beta and once you get past the art style, it's actually been pretty fun, although they had a few difficulty spikes they recently overhauled it. At present you can only play as Greeks although you could play as Egyptians before and there'll be another civ added by the look of the interface. Give it a go!

I'm very sceptical about this as it looks as a cartoon and childish. Is it simplified?

No, why am I even trying. This game will never give me any of that satisfaction Age of Kings did. Oh, how I miss those times.

It has elements of all the old Age of Empires games from the past. I wouldn't say it's simplified; you build up and gain access to technologies, upgrades and buildings as you play (not in real-time). The good stuff takes a lil' while as you need to be at lvl 20 (out of 40) to get access to Final Age techs, but theres strategy in what to unlock and what units to upgrade or specialise in. Theres a lot of customisation regardless of which civ you play as and your civ becomes what you want it to be (e.g. If you want powerful archers you can build an archery school in your home city and buy specilaised archer techs from their). The core gameplay is still intact though.

There is a non-real time area that doubles up as your city (like in Age III but with more depth). From there, you can invest in buildings that give you access to upgrades and get given story based quests (the campaign mode basically), co-op quests and PVP matches. Also, each unit has its own armor and weapon upgrades for you to attach that can also make a big difference when you play a quest/Real-Time game.

I'd say give it a go. Not sure it'll be the same as Age2... but lets face, not a lot will :P

You're selling this game to me. There's so many good games coming and I have a huge back-logue and too little time but now I'm tempted to try this out, just for that good old Age-feeling (God I loved that feeling. AoE 2 is still in my top 3 games of all time). When is the 48h download window again?

I've been playing it for 2 weeks.  I'm about level 30 now.  And I was very surprised how detailed the game is.  Aside from a few choice things I liked about AOEIII (namely hero explorer units and multiple villagers on one farm), I'd say this game has taken everything that was good about the series and put it into one game.

And sure to please a lot of fans, the game is a heavy mixture of AOEII and Age of Mythologies.

been in the closed beta...it sucks. it is wow for rts fans.

Wait wait, does this mean that the NDA is lifted? I can talk about it now?

Yeap, you can talk about it now - What do you think of it so far?

Downloading it now

Meh. THat's about it. I hate the levelling. Absolutely hated it. I find it utterly pointless. This MAY have changed the game since last i played ( 1 month ago, maybe more) but they didn't even give you detailed information like armor and damage of pearticular units. There is a really good core, but it is covered by a whoooole lot of shit, and you have to dig deep to get to play the game in a state that is trully enjoyable and worthy of AoE.  Once you get there though, pretty fucking awesome.

Now until Saturday morning-ish (but once you've signed up you'll be able to play whenever). Remember, it's free so what have you got to lose? And if theres stuff you don't like, just go on the forums and voice them! It's still in beta afterall :P