Yes, it's new.
No, it's not a sequel.
Yes, it takes after the manga more than the old series did.
Yes, it does own you.
Funimation is releasing episodes on their website, subbed, for free, roughly 4 days after it's released in Japan. You can't get any better than that.
Fullmetal Alchemist Official Page(click on "click to watch")
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Fullmetal Alchemist: Brotherhood
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