I'm personally holding out for a sub $10 price. I mean as far as games go, I think the Telltale Walking Dead games are more worthy, while this one's clearly a licensed "cash-in".
Imo it looks like good dumb fun, but I wouldn't pay $40 for it. $20 wouldn't be too bad.
I actually bought one on clearance(wii u) at Target for $15 last May and immediately flipped it to Amazon for $30 because I have a strong feeling that this'll be even cheaper than that before this year's over.
Some gameplay footage(pg-13 language)
http://www.youtube.com/watch?v=qRMbuld3a5Y