4 months or more since announcement; for old Chaosium that would have been super fast, for "Moon Design sans Greg Stafford now doing business as the walking corpse of Chaosium" we don't know, they haven't shipped anything on a schedule before.
So, it's 23 pages, with 2 pages of license and an artless cover page. And no interior art except two colors of the conformance logo, which must be plastered on your book. The license isn't too different from the D20 SRD, except the massive list of "prohibited content".
The book is moderately useful mechanically, it's a quickstart version of BRP. They've eliminated characteristic/skill bonuses, and very few skills use characteristic bases. One of the nicer features of most D100 variants is either a skill category bonus from characteristics (say +1% to all Manipulation skills per CHA over 12), or direct characteristic base (Influence starts at CHAx2); in BRP SRD, Persuade starts at 15% whether you're a hideous slime beast or George Clooney.
There's a bunch of professions ranging from Cowboy to Warrior, with no theme or note about culture and era, none of which have magic. Equipment is mentioned, but there's no shopping lists for any period; very generic lists of weapons and armor ("Sword, Broad", "Pistol", "Pistol, Laser", etc; I thought I was terse!) are later given with no costs, and the armor uses the same craptastic fixed-defense mechanic as later-era Call of Cthulhu and RuneQuest, rather than the die rolls that made Stormbringer, etc. combat dangerous.
BRP-SRD still has 4 almost totally disconnected task systems: Characteristic rolls, which are score x 5%, pass/fail; Skill Rolls with Critical, Special, Success, Fail, Fumble levels of success (Critical/Special used to be Impale/Critical? Or the other way around?); Skill vs Skill where levels of success are compared; and Resistance Rolls on a big table where characteristics are compared to get a % roll, which boils down to (Attack-Defense+10)x5%, pass/fail. Modern D100 games have simplified that down to just skill rolls and four levels of success, with specific resistance/characteristic test skills.
The classic skill-roll experience system is here, but it barely addresses over-100 skills, and has the classic "golf bag of weapons" flaw: No limit on how many skills can be improved, so everyone is encouraged to try every skill until they succeed once, then never do it again that session. Legend's Improvement Points mechanic somewhat fixes that, and certainly has much more serious over-100 skill rules, as well as paid training, time training, and improving characteristics. This is barely, minimally adequate to play a few sessions in, a campaign will be severely hamstrung.
Combat is minimalistic, with 2 pages of spot rules, heavily whitespace-padded. You don't technically need many rules to run D100 combat, you can make your own spot rules for most things. But there's no off-hand or dual-wield weapon use, for instance, and I like to fight Florentine or with a cloak in any medieval game. Everyone will have their own set of needs and the much longer section from most D100 games standardizes them.
There is no magic system at all, and they've forbidden use of any of the standard BRP systems of the last 45 years. OK, making a new magic system isn't that hard, but if you want it to be like Stormbringer, or Mythic Earth, or Magic World/Big Green Book BRP, you can't. You can't just pick this SRD up and have a usable game for any genre except mundane reality.
There's one animal stat block, and they've forbidden use of essentially any monster ever written because they forbid use of:
All trademarks, registered trademarks, proper names (characters, deities, place names, etc.), plots, story elements, locations, characters, artwork, or trade dress from any of the following: any releases from the product lines of Call of Cthulhu, Dragon Lords of Melniboné, ElfQuest, Elric!, Hawkmoon, HeroQuest, Hero Wars, King Arthur Pendragon, Magic World, Nephilim, Prince Valiant, Ringworld, RuneQuest, 7th Sea, Stormbringer, Superworld, Thieves’ World, Worlds of Wonder, and any related sublines; the world and mythology of Glorantha; all works related to the Cthulhu Mythos, including those that are otherwise public domain; and all works related to Le Morte d’Arthur.
Well, that leaves… subtract nothin' from nothin', uh, nothin'. You could publish a game of normal people, possibly medieval peasants to 19th C, who never encounter any monsters except a Bear. They can't go insane, because that's owned by Call of Cthulhu. They can't fight demons or elementals, because those are owned by Stormbringer. They can't be knights errant because that steps on Pendragon and Prince Valiant. I'm not actually sure "Humans" are allowed by this license. Possibly change them to Care Bears Koala Friends to be safe from "DBA Chaosium"'s vampiric lawyers.
★☆☆☆☆ Too little, a decade too late. Not worth the cover price of "free".
OpenCthulhu (see my comments ), Legend, OpenQuest, Mythras, Delta Green, and other D100-systems are much more open, and provide much more material to start working from.
They reserve the right to add Koala Friends in the future and while you can continue to publish your old game, you can't republish it with more than 30% new material or publish anything new for it.
In other words, you're being soft on them.