Thanks, for your comment cafegroundzero,
Ok, the Sziget festival takes place on a wonderful island (Sziget actually means island in Hungarian) on the Danube, just a few miles north west of the heart of Budapest (capital of Hungary).
Usually it starts in the middle of the first week of August (eg. it started Wednesday Aug 10 this time).
As far as the genre of music performed and additional programs the breadth to cover it is surpassing my typing abilities :). But see it for yourself at http://www.sziget.hu/festival_english. Daily tickets were sold this year for HUF 5000 (approx. EUR 20) and the weekly pass for HUF 25 thousand (or approx (EUR 100). You can camp on the island that’s included.
To get here is either by plane (quite cheap now), then public transport or taxi to the Island. For public transport the best is to buy a weekly pass and you can see the beauties of the city in the daytime less than HUF 5000. Taxi one trip to or from the airport to the Sziget is approx. HUF 5000 (EUR 20). Same applies for the rail option to Budapest, where you would arrive to either the Southern, Western or Eastern Railwaystations (the first and second being the closest to the Sziget).
Have a non-representative survey on my blogsite about how my friends like the event generally. See at http://suikerdagvos.blogspot.com