What is an Indie RPG? Good question. There are many subjective ideas of what an Indie RPG is. The simple answer? A game published by a small independent publisher, studio, or individual. The subjective answers? An RPG not published by one of the big (3, 5, 10?). A game created by designers from The Forge (see links in next post). A game that is not D&D. A game that supports story over mechanics (that one is VERY subjective, and IMHO, false). A game that is cool and not like all the other games you play (when people are feeling snarky. I like to ignore that one too.)
Does this mean Indie RPGs are better than games published by larger or more established publishers? Nope. There are great games produced by all sizes of publishers in the hobby. Generally, if you're having fun playing an RPG, it's a good game. Also note that there are many Indie RPGs produced that read and play just like the games from established/larger publishers. Just because it's Indie does not mean it's "innovative".
Why would I want to try [game x]? Because new games tend to explore new areas in RPG design (both Indie or not). A new game can give you ideas to use in your preffered game, or offer new ways to approach how you play at the table. The "Indie Scene" has a large number of publishers, which means you get a significant ammount of new games to try out.
Doesn't an Indie game have to be self-published? Nope. Generally, you will find the bulk of the successful (at least in perception) Indie games are. The Indie RPG movement bears a striking resemblance to the Indie music scene. Smaller or individual publishers striking out into the hobby to offer their hard-worked creations to the seething niches. These days, with the economy as such, you will find many publishers utilizing PDF/electronic sales, smaller print runs, and less-frequent releases. It's becoming harder and harder to distinguish the Indie from the established publishers; at least as operations and strategy are concerned.
[I hope others will come in with some ideas for new FAQs (with answers please!) or just post a question you want answered. Also, posts with links to your favorite game/publisher or other Indie info you can offer would be great. Hopefully this thread will serve as a information source for this forum.]
[Disclaimer: I am not important. I don't know everything. I am just an RPG Enthusiast who spends WAY too much time following the hobby/industry, reads the InterWebs way too much, and has piles of useless info regarding such. These are my subjective opinions and thoughts and I hope they are at least a little helpful. :-D]