Well, I've only completed Week One thus far, but I'll tell you what I can. The week is broken down as Beth describes. So on a typical day you are learning some new aspect of poetry (some new term like meter or rhyme) discussing it, copying the definition in the Poetry Notebook, looking at examples in poetry (analysis) and then doing some imitation.
The book starts out sooo gentle. The first week we identified lines, rhyme scheme and iambic meter. For the imitation, we made lists of rhyming words, and then substituted new rhyming words into nursery rhymes, and then substituted missing words in a nursery rhyme while maintaining the poetic meter. The kids thought this was so much fun. Even the 4-year-old perked up when she heard us reciting Mary had a Little Lamb! :)
From what I can tell from the core, the program, as Beth says, builds slowly on the skills until the student is doing some quite sophisticated work. And I will add, as someone who has taught Intro to Lit courses in a university and AP English, the Beginning Poetry book covers as much--if not more--terms and concepts as either of those courses. And that's just the *beginning* book! I am so excited for myself to go through the Intermediate and Advanced books. Looking at the website, they have some awesome books planned, including analysis of full works, like The Fairie Queene.
As an aside, one of the reasons that I don't stress out over the whole Literary Analysis thing in our literature studies (we just read and discuss books) is because they are getting so much in the CW program. As I have said elsewhere, you are getting way more than a writing program with CW.