It's far too soon for me to have an opinion of it. However, I really enjoyed - The Talisman - by he and Peter Straub. Going by the synopsis, it appears as though Fairy Tale is similar in ways to the book from 1984.
So far, I've been introduced to the main character - a boy named Charlie. He lives with an alcoholic father. His mother was killed in a traffic accident years earlier. I'm about to be introduced to an old man and his dog. Somewhere along the way, the old man is going to somehow introduce Charlie to a portal which will send him to a parallel world.
With the title of the work being 'Fairy Tale', I surmise we're going to see a lot of magical characters in the aforementioned world.
I'll be going slow with this book. I'll have the Booker Prize shortlist to deal with for the next month or so once it is revealed tonight.
More on that in the near future...