The Mortal Instruments: City Of Bones teaser trailer has arrived!

So I've heard a lot in the past year about this thing called The Mortal Instruments. I didn't think much of it until I heard Robert Sheehan (Misfits, Love/Hate) was cast. So I did minimal research and foud out it was a book series. As far as books being turned into movies I was a little burnt out at the moment, so I didn't think to read it, but the teaser trailer for the movie was recently released and I'm starting to think otherwise. 

The movie also stars Lena Headey (Game Of Throne, Imagine Me & You), Lilly Collins (Mirror Mirror), Jonathan Rhys Meyers (The Tudors) and Jamie Campbell Bower (Camelot).

Has anyone read the book? Is it worth reading? Is it another Twilight?