For overseas fans of Fullmetal Alchemist, this new series may make little sense. However, FMA: Brotherhood is a sort of a unique "reboot" of the series - its basically a more faithful adaptation of the original manga and has elements found from that source material - Roy and Riza's deeper connection, the original mastermind of the homoculli and the Xing empire. This material doesn't make it until a little later, so the early episodes are mirrors of the first parts of the 1st season.
I can understand why they did this. FMA the manga is still ongoing, but Studio Bones needed to come up with a plotline that finishes the original series since they had a finite production set. By the middle half of of the first series, the plot takes a turn from manga. I guess they never counted on the series being so wildly successful to the point they can do it all over again.
FMA Brotherhood is in good hands, though. Its still being done with the awesome artwork of Studio Bones but now its being directed by the guy who did Cowboy Bebop and a writer who did Gundam. If you are a true fan of the series and high production anime, you should at least give it a shot. Some fans also wouldn't mind a different ending to this series. I for one wouldn't mind exploring a romance angle to Winry and Ed or Roy and Riza, or more of the humor found in the "Warehouse 13" episode. Short jokes only go so far.