It wasn't until I read The Watchmen that I had found a graphic novel that couldn't have been done better as a movie or television series. Some art lives in its medium, some defines it. This may be a defining piece.
Far from a gimmick, it adds to the kinematic aesthetic; instead of motion lines and blurs, he is able to show us the action directly. Graphic novels and movies (or any filmed narrative) are approached in very similar ways; pacing, lighting, composition -- these are all core aspects of both. Will Eisner touches on this, if memory serves correctly, in the "Eisner/Miller" book.
Of course, all of this is speculation until we see the actual product; but if he approaches it in a manner similar to something like Magical Game Time[1], I believe it will be successful. I, for one, will be purchasing this.