So I finally got around to downloading and installing Project Brazil last night...
The mod allows an alternative starting point to the original Fallout: New Vegas game (though you can still access the original starting point).
You are "Star" the star American football player of Vault 18 (or you can be a nerd but my Fallout 3 character was a nerd so I didn't want to just create another caucasian male with brown messy hair and a brown messy beard to match.) Your first decision is thrown at you in seconds of starting the game when you can decide, whether or not you want your character to be a professional athletic jock or a sissy nerd who runs away from the ball. So after making my decision, I decided that this time around I would be a big, strong, African American man with orange hair.

You may have noticed that the interface is a little bit different, it's more like the Fallout 1/2 interface, which I'm pretty supportive of. If anything it makes me feel like I'm playing a new Fallout game.
Anyway I won't give too much away about the plot, but so far it seems like a mix between Fallout 2 and Fallout 3 (it's kind of complicated). So far the dialogue, script and acting has been okay, (for a mod) though there are some things that I think they could improve in later updates. Still I've noticed the humor is similar to older Fallout games, observational and fun humor about the world around the characters which often comes across as quite humorous in many ways, which is something that I felt that Fallout 3 lacked (not saying that Fallout 3 didn't have any humorous bits but it was just never as funny as Fallout 1/2 when it wanted to be.)

So far, I'd say that this mod has a great, interesting story and I love how S.P.E.C.I.A.L stats are more important this time, similar to the older Fallout games. You can see that, that is what the developers of the mod were trying to achieve. I've noticed that you can leave everlasting impressions on characters and that quests are a little bit more challenging than "follow dis arrow," for example, I pissed this guy off in the opening of the mod but then needed to ask him about something important less than an hour after. Unfortunately he didn't seem all that happy about talking to me, as I had just insulted his entire way of life, minutes before that. The quest still told me to talk to him, which I thought was a bug but using my magnificent intellect (why is everyone laughing?) I managed to discover that I simply had to talk to the quest giver again.

It has it's flaws though, considering that it is in beta, it has it's fair share of bugs but this shouldn't be too bad (unless you expect every mod to be perfect on release). I've only had to reload my save twice and that was due to characters getting stuck in the walls. Also the pop culture references seem... out of place and in many ways, rather silly and don't really fit in the Fallout world. Though anyone who played Fallout 2 will probably realize that this can be a common flaw in the Fallout franchise and to be honest it's pretty easy to overlook or simply get over.
Would I recommend a download?
Fo sho.