There is a nice blog entry on the work of Jean Baudrillard and specifically his concept of the hyperreal. I think this is a nice summary of the concept that both indicates the valuability and limitations of it.
I have always found there is something appealing to Baudrillard's writing, and I think that his work, especially post-1980 Baudrillard, may come across superficial, but this is because the world he sees is superficial, which appears a pretty accurate statement about late/contemporary capitalism and the world of advertisement. This is why Baudrillard can produce such hyperbolic statements as 'the truer than truer' that could come from a tv advert or tv programme. Of course Baudrillard should not be taken at complete face value, but when considering such things as the consumer society; media; technology; marketing; and capitalism there is a lot of content in his superficiality.