The show focuses on detective Jim Gordon during his arrival to Gotham. One of his first scenes was the Martha and Thomas Wayne murder(the cause of Batman) The story line will progress from that point until the time Bruce returns and becomes batman in Year One.
The show creators have said they plan to focus on the villains including some less well known, which I think is great because we need more villains introduced to the general public if we hope to see more depth to the movies, how well do you think Dr. Pyg will go as a villain when no one has ever heard of him. It also focuses on some well known villains as well like Penguin Riddler and Catwoman.
All in all it was a good first episode, IF I had to nitpick it's that characters like Riddler and Catwoman shouldn't be around before Bruce let alone a 20 some adult that Riddler is, the villains of Batman are around his age not two decades older, though Catwoman appears to be around the same age in the show. The only other thing I didn't like that I've seen is Joe Chill(assuming they stick with the character who killed Bruce's parents) gets the money then still kills them in cold blood, when I'm fairly certain in the comics he accidentally shoots Martha then shoots Thomas after he tries to take the gun.