(the tl;dr of the spec is that it adds this HTTP header to all requests:
DNT: 1
it can be set to 1 or 0).There is also a large risk here of creating a false sense of security amongst less knowledgable users. We should be teaching users cookie control, plugin and request blocking as part of using the web, not an 'install once, forget forever' solution that doesn't work.
DNT is also adding more entropy to HTTP requests, making you easier to identify or profile. You get less privacy. Think about how much an advertiser would love to know that you are privacy conscious, that puts you in a certain socio-economic group.
I am a huge privacy nut and advocate but DNT will not work. The only way to fix this is better third party blocking and controls in browsers.
I have been meaning to flesh out a blog post against DNT for a while, since I keep getting emails asking to comment on media stories about it being adopted.