The Game Informer website describes the title as "a surreal ode to the mythology of rock and roll staring [sic] the talents of Jack Black and a stable of heavy metal legends." It's also revealed that the game will arrive on the Xbox 360 and PlayStation 3. Assuming no further versions of the games will be released, this marks the first time Schafer, the creator of classic adventures Grim Fandango and Full Throttle as well as recent platformer Psychonauts, will have released a game lacking a PC version.
Schafer was rumored to unveil the title at Leipzig Games Conference when news of the game first broke. Though Schafer, a keynote speaker at Leipzig, did not announce the game, the title of Brutal Legend and its star Jack Black were indeed correct.
The URL brutallegend.com is owned by Circus Freak Studios, with the administrative contact being Circus Freak founder Caroline Esmurdoc. This led to earlier confusion as to the developer of the game, after its title had begun swirling around various industry grapevines. Circus Freak is in fact now defunct, with Esmurdoc serving as a producer and chief operating officer at Double Fine, suggesting the Circus Freak/Brutal Legend connection was largely to keep Double Fine's name masked until the official announcement was made.
Schafer was at Leipzig, he just wasn't talking about this game.