The queue was pretty quick, about the same as a normal dungeon run and so far there's been someone in the group to give the 5 second explanation that will get you through the fight. There are videos out there so it doesn't hurt to watch them if you want something more specific than "don't stand in the bad and kill this before that."
Right now only the first 4 bosses of Dragon Soul are available for the LFR, but I think next week the last four are supposed to open up. That means you too will get to kill Deathwing!
Minimum gear requirement is

