If you'd like a copy of the Gospel of Judas see here to judge for yourself whether the media fuss was all worthwhile.
Thanks to Simeon for passing on the link.
Now that I've finally read the text I say it's pretty stock standard Gnosticism if you ask me: Jesus takes aside a favoured disciple (in this case Judas) to divulge secret knowledge about the nature of life, the universe and everything. The cosmology is clearly emanationist and invokes all the usual suspects, Yaldabaoth, Sophia and the Aeons. Barbēlo, the first emanation of God in the various Sethian gnostic cosmogonies, gets a special mention.
Again, as you'd expect for a Gnostic text, there are various aspertions directed at orthodox Christianity and Judaism and a general undermining of the humanity and Jewishness of Jesus. There is no resurrection to hope for but only a ghostly afterlife.
Now, apart from the novelty value of this, what might the re-emergence of the Gospel of Judas be saying back to the church in general and the emerging church in particular? One thing that immediately leaps out for me is the propensity for humans to reconstruct God in their own image, and correspondingly, the need for robust contextualised apologetics where so many alternate Jesi are on offer in the spiritual marketplace.
PS. As an aside I recently came across a Gnostic forum called the Palm Tree Garden that looks interesting. You'll find it here if you want to check it out.