As someone who didn't read DC, before the new 52, I was hesitant to pick this up because I thought there might be too much back story I'd be missing, but there really isn't. Any back story that kind of needs to told, is mentioned in the first page of the book. Basically all you need to know, is that Dick Grayson is now Batman.
If you're a fan of Batman, or a fan of Scott Snyder (or any of the artists involved), believe me, this book is worth picking up. I was hesitant because I haven't read a lot of Batman books, and thought the premise sounded a bit odd to me, but I took the plunge based on Snyder's talent alone. It's never a problem that Bruce Wayne isn't Batman, for the most part, it's a welcome change to see someone who doesn't brood as much, as is a bit happier.
There's small issue-by-issue stories littered in the book, but they're few & far between, and are just apart of the overarching story that Snyder weaves, involving Jim Gordon's son.
I started with Severed, then picked up the new 52 Batman, got up to date with that, then picked this up right after, and the quality doesn't let up, and has a satisfying conclusion. Very friendly to people not quite in the know how of the Batman universe, I found.