After a violent shipwreck, billionaire playboy Oliver Queen was missing and presumed dead for five years before being discovered alive on a remote island in the Pacific. When he returns home to Starling City, his devoted mother Moira, much-beloved sister Thea, and best friend Tommy welcome him home, but they sense Oliver has been changed by his ordeal on the island.

While Oliver hides the truth about the man he's become, he desperately wants to make amends for the actions he took as the boy he was. Most particularly, he seeks reconciliation with his former girlfriend, Laurel Lance. As Oliver reconnects with those closest to him, he secretly creates the persona of Arrow - a vigilante – to right the wrongs of his family, fight the ills of society, and restore Starling City to its former glory.... 

Greg Berlanti (Brothers & Sisters), Marc Guggenheim (No Ordinary Family), Andrew Kreisberg (Warehouse 13, Fringe), David Nutter (Game of Thrones)

Even though Smallville had a character who was Oliver Queen, it's been made clear that Arrow is a completely different universe. That won't confuse comic book fans, but it could confuse casual fans...as if casual fans watch comic book-based programs. This is a slightly different take on the character (now just called "Arrow" opposed to "Green Arrow") and should fit in nicely on the CW. If they follow the blueprint laid out by Smallville and Supernatural, this could stick around for a bit. I'd still watch early.