Awesome Adventures is basically Fate 3.0 (based on the SRD / Spirit of the Century) without stunts. Whether that's a good thing or not depends on your preferences - personally, stunts really turned me off from SotC, so a stuntless version of those rules was a big selling point for me, as it makes character creation quicker, especially for newbies, it minimizes munchkinism, and it makes setting creation quicker for GMs, who no longer have to generate a list of stunts for their campaigns.
I also found it to be more concisely and clearly organized than SotC (which I thought had a lot of redundancy), and thus quite a bit easier to wrap my head around. Finally, this is a setting-free rule set, as opposed to SotC, which is an early 20th century pulp heroic adventure setting. Having said that, I wouldn't quite call it "generic," as it tends to pulp-flavored, over-the-top action, regardless of the specific setting. All this combines to make for a nice version of Fate that is ideal for pick-up games, quick setting creation, and lots of improvisation. At the price, it's hard to beat - pick it up and check it out for yourself.