Lazy Gamer has a hands-on preview of Daggerdale, based on "a good deal of time with a preview build of the game for PS3". It's like Gauntlet, apparently:
One thing that might upset players when they first play is the complete lack of character creation, something many feel is an intrinsic part of role-playing. Instead, youíre presented with 4 pre-created characters; a human fighter, a dwarven cleric, an elf rogue and a halfling mage. Itís initially disappointing but it makes sense for a smaller downloadable title to forgo such robust character creation in favour of play mechanics, and it plays quite well. When you play, particularly if you play multiplayer (the game supports 2 player local and 4 player online multiplayer) the game feels like a wonderfully realised, elaborate Gauntlet Ė which isnít really a bad thing.