Not to be confused with FreeSatFromSky, (which was hastily launched when the BBC announced Freesat), it currently offers 80 TV and Radio channels at startup and there will be over 230 by year end. Similar to Freeview in it's lineup the main benefit is to offer HDTV UK Wide, it also has the capacity for far more channels. HDTV on Freeview will be available at some point but only a limited number of channels are possible because of bandwidth restrictions.
You'll need a dish (an existing Sky dish will probably do) and a receiver specifically for Freesat. Receivers start at around £70 for Non HD boxes and a PVR (like Sky+) will launch soon. Also TVs with built in Freesat decoders are becoming available.
As you are probably aware Freeview will not be available in the bulk of Swimbridge until June 2009.
There's an amusing quick 'listen' podcast at frequencycast and the FreeSat website is at www.freesat.co.uk.
Those of you that currently have FreesatfromSky might Like to know that E4 and More4 are now available free to view and are no longer part of the Sky variety pay TV package.