This is very interesting when compared to Premodern that has been getting a small buzz. (http://premodernmagic.com/) Comparing the two formats Middle School has a very different approach to the banned list than Premodern took and I absolutely love that they allow the World Champion gold-bordered cards. When a format is pretty much going to be unsanctioned for a while, there is no reason to barrier things that are still playing with a Wizard's product.
Here is how the two ban lists differ and it makes it such a vastly different format even though the two of them have for the most part the same set legalities. Comparing the banned lists and omitting the cards they have in common we have a very interesting difference in the formats:
Lion’s Eye Diamond
Force of Will
Show and Tell
Tendrils of Agony
Middle School attacked fast mana (while strangely leaving Grim Monolith unbanned) while Premodern looks to nip any combo nonsense in the bud since they don't allow Force of Will while still letting you use Dark Ritual and Lion's Eye Diamond. Storm is tougher as well since Premodern players have only Brain Freeze and Hunting Pack to kill with. Necropotence being legal is interesting but with no Dark Ritual to power it out, it seems like it would be more of a controlling card rather than something you slam down on turn 1 to win on turn three after drawing 8 for two turns in a row.
All in all this is definitely something I'll be interested in seeing where it goes and how different it is going to be from the semi-established Premodern. Force of Will changes a ton of things so who knows!