This lineup looks so awesome. I'm seriously considering going.
Do bands only play 1 set throughout the three days or do they multiple?
Just one set. The only thing that sucks is that the bands that go early in the day only have about 15 min long sets, though it makes sense since they have so many bands that they have to squeeze within three days.
Also just a reminder, this is just the FIRST announcement. There should be two more coming.