Bugdom is cool, but Spore is quite different.
Synopsis: Create your own creatures that dynamically evolve according to what you do and what planet they're on. First conquer the evolution system from single-celled organisms to neighbourhoods, continents, worlds, planets and solar systems. Unique and diverse creatures. Something like The Sims vs Populous if you know what I mean.
However, Wright has already said that the release date has slipped, so it's highly unlikely to see the light of day until 2008. Check the Spore wiki page for more info
http://en.wikipedia.org/wiki/Spore_(video_game)