What I think makes this event great is the live video coverage. In past years, the games are analyzed during the round by top UK GMs and IMs as well as the player that has the rest day and isn't playing. After games are over, the players stop by and go through their games. Usually the commentary is educational AND entertaining.
The web site is:
First round starts at 6am Pacific Standard Time on Saturday, December 1st. If you happen to be awake, go to the site and click on the "Live Commentary" link to watch the games in progress and listen to the commentary.
Here is a video from IM Andrew Martin with a preview of the event:
UPDATE: The tournament finished this morning with the clear winner being Magnus Carlsen. Not only did he win the tournament, in doing so he has broken Gary Kasparov's rating records and is now the highest rated player ever! Former World Champion Vladmir Kramnik took clear 2nd.
Here is a final Cross-Table of the event. Click to enlarge.