At this point it's mostly a placeholder -- I don't plan to import my LJ content, and I'm still deciding whether to cross-post, but I wanted to let you all know that it's there.
I have a couple of invite codes if anyone needs them. Just drop me an email.
If your reaction to this post is "What the heck is Dreamwidth?", the short answer is that it's a new LJ clone, but it's a fork of the code rather than just a straight copy, so they've cleaned up some things and added some features -- a few now, more promised in the future. The long answer is here.