Following the death of Batman/Bruce Wayne, Dick Grayson assumes the cowl and becomes the new Batman with Damian Wayne as the new Robin. Tim Drake feels that Bruce isn't dead and begins searching the globe, following his footsteps in Grant Morrison's story "The Return of Bruce Wayne", to pick up clues that Bruce is still alive and is slowly making his way, through time, back to present day Gotham. In order to find Bruce though Tim has to ally himself with one of Batman's greatest foes - Ra's Al-Ghul.
Chris Yost does a decent job of writing Tim Drake as an interesting character but I think there's not enough meat for a full blown two volume series here. Yost is basically following in Morrison's footsteps, but "Red Robin" isn't necessary to read to follow Morrison's Batman story arc, it's more of an add-on for the hardcore Batfans out there who'll read anything and everything about this series.
I like Tim but like Dick Grayson when he was younger and starting out as Nightwing, I think the teen, coming of age heroes are less interesting than when they're older and have more experience. Here Tim acts exactly his age being melodramatic and hot-headed, making mistakes, and nearly dying for them. That kind of character doesn't warrant an entire book and the book feels like what it is throughout - side story blown up to become a kind of main story.
Tim Drake/Red Robin is an interesting character with some hidden angles that aren't really gotten into in this book (he's darker, willing to cross lines Batman can't) and I think the potential is there to develop him into a more substantial character but he needs his own storylines rather than playing off of Morrison's Batman story arc that will always have Drake as a secondary character even in his own book. Decent script, decent art, but a book that fails to show Red Robin as a superhero worth reading - yet.