I admit, I don't know anything about the Fables comic book series. The only reason I knew about The Wolf Among Us is because I enjoyed the first season of The Walking Dead. I wasn't going to buy Wolf Among Us (at least not until it was completed), but Xbox Live allowed me to play the first episode for free so I jumped into the first episode.
There's a little more "action" in this game than Walking Dead and, to be honest, I played TWD on PC so I really fumbled around on the first fight scene with a controller. After a second try at the first fight, I was on my way through what turned out to be a surprisingly enjoyable start to the series. The voice acting is great and the start to the story does live up to the "gritty" adjective that Telltale Games and others have thrown around. And that's saying something given that the game is made up of characters from fables and fairy tales.
If you liked how Telltale handled The Walking Dead, then The Wolf Among Us is forming into a promising game for you to play. I understand if you want to wait for all episodes to be completed (and to wait for final reviews). I'm normally the same way, but Xbox Live sold me the "Season Pass" for $10, so I took the bait. I hope that the impact of the story isn't weakened too much by the wait for episode 2.