the Plane Business discussion boards had a lot on this when it was first announced. Everyone wants their share of this market, and now AA is trying to bite in.
But can they compete? They don't offer the "liberal" policies of the true Shuttles--walk-up fares and guaranteed seating. They will use (i think) F100s, which have small overheads compared to the 727s and 737s used by Delta and US Airways. AA will have First Class for the hour flight, if that kind of thing interests you.