This looks like a fun and clever game, and I would enjoy playing it. It's been my experience, though, that games like this require a certain kind of person to come off, someone who's happy really role playing and getting into the spirit of it. The problem I've had in the past with games like this is that I end up with a group that is more interested in gaming the experience than in role playing it. That is, what do we have to do to win rather than how can we have fun with the characters and the storytelling. Good storytelling is an art, and I've not found that many people who do it well in spontaneous situations. It can cause a game like this to fall flat.
What have others experienced?
Still, I have some friends who are actors who might really enjoy getting into this.
....As long as I can be the Overlord!