Reconguista in G: What's going on? A general summary of the universe

Been watching Reconguistia in G lately? Well, you should, if only for the great animation and fights. If you are, do you know what's going on? Let's just say "easy to follow" isn't exactly a common descriptor. Tomino's break-neck pacing and sporadic exposition haven't made the picture clear for a lot of folks. If you've seen Turn A, it's a lot like that, just turned up to 11.

Gundam: Reconguista in G Trailer

I still can't get a good grip on this yet. I might have to wait for at least the first few episodes. It's Tomino, so t can go right or really, really wrong. Also, the G-Serufu looks like Gundam Exia by way of Victory Gundam. It's like the TOMY version of Exia. Should I review it for my blog or what? (How do you pronounce the title, even?)