From what I understand Good Morning Ron Burgundy is over 60 minutes. Now, if its a coherent piece like the theatrical film, we'll have to wait and see. As people have mentioned before there are scenes featured in the trailer that are not in the film (When Ron exclaims, "Let's make a baby!" comes to mind) which are probably going to be used in this "new" film.
At any rate, I've been enticed to pre-order this set.