Yes, it's one hit deaths. Aside from the portal guns, online multiplayer (!!!), and occasional puzzles from Portal (like the lasers that can be redirected through portals), it's a faithful recreation of the original 1985 SMB.
The countdown to release just ran out, so supposedly it's out now for free download, but when I refreshed I couldn't even get on to the site which leads me to believe it just got mobbed by a thousand other people all watching the countdown at once. I think I'll wait until tomorrow to download it, even though I've been eagerly anticipating this for months...
EDIT: Never mind, downloading now!!!!
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