Saw the first episode, that was 43 minutes long. I see the potential to be good and hope they continue in the same way, though I think that they rushed a bit on Mum-Rah's introduction on who he was, and hope they give him more background for the younger audience who didn't watch Thundercats as kids.
I think it is in the future on Third Earth, the cats basically have made their own empire/kingdom, but at the same time it is not 100% the future. Some older characters are there like Grune ( http://www.youtube.com/watch?v=VMD8.....eature=related that guy!), who... can't be in the future. But oh well, I can't complain much about it. They have forgotten about all their old technologies, while the new Lion-O (who is the son of the king) wants to discover more about technology.

Though one thing I didn't understand is this:
Tigra and Lion-O are brothers in this storyline, Tigra the older one... but Lion-O is the one that is gonna be king... They don't explain why, but I GUESS it's because not every cat can wield the Sword of Omens.
It looks quite a lot like the new he-man series, and I kinda liked that one so... Im looking forward to it and hope it got a good character development, feels little rushed currently.
And meanwhile, it can't really be the future cause... 2 females and like 4 males cannot make a civilisation due to inbreeding... but now Im applying logic to a cartoon... lol. Like MLP got like 90% female ones.

AND SNARF DOESN'T SPEAK!!!.......... which is good, fuckingshitcat.
Now he is just cute =3