Is this the same setting as the old Diskwars game ?

It's set in the Runebound/Descent world.

Toqtamish said:

Yes, it is. And Charian is correct, too. It's set in the Runebound/Descent world. Fantasy Flight merged the world backgrounds.

They took elements of the Diskwars settings and incorporated them into the Descent/RB setting. Officially the game is part of the RB world, although there will probably be more than a few names familiar to you if you played DW/BM. The distinction is that, as far as I know, they're more concerned with maintaining RB continuity in the merger than DW/BM continuity.