I was looking up info for Daggerdale and found this post on their forum by an Atari community person. I always assumed Neverwinter was going to be a more standard Diablo-ish game but I guess being developed by Cryptic I should have known MMO.
Daggerdale will be a cooperative Action RPG. So, it will be a little more similar to games like Dragon Age, or Diablo, then it will to Dungeons and Dragons Online (An MMORPG).
If you're looking for a new MMO to play in the D&D universe, make sure to check out Neverwinter Online, currently being developed by Cryptic Studios, and due out later this year. More info on that title will be coming soon.