• No peripherals, all instruments are played via Wiimote/Nunchuk
• Not Disney music, licensed music: Devo’s “Whip It”, The Raconteurs’ “Steady as She Goes.” and many more
• guitar: strum with Wiimote while pressing button combos on the Nunchuk
• bass: strum with Wiimote while pressing button combos on nunchuk
• slide Nunchuk to simulate sliding your hand up/down the neck of a guitar
• drums: Wiimote/Nunchuk used like drumsticks to tap out beat
• ‘trick system’ that has players hitting drum fills up to a certain number
• local multiplayer, but ‘no comment’ on online
• DS version will not feature licensed music. It will play out more like the jam session in Hannah Montana: Music Jam

More info here

Link