Great news, isn't it? I'm still a bit skeptical at the moment (it's hard not to be, after the agonisingly long wait for Elite IV), but I think I'll chip in. Apparently Braben will add some screenshots and more info to the Kickstarter project soon...
I just hope the game still delivers the same Frontier-ish feeling of vastness and freedom, the ability to explore endlessly. I can understand that Braben wants to return to the Elite controls/physics, as that was more fun in dogfights, but Frontier's attempt at realistically recreating the galaxy was something very special indeed.
Rest assured, I'm drinking a Weißbier in celebration