So basically, the entire quest line is a game of Bunkers and Badasses (Dungeons and Dragons for lack of a better term) and you have to save a remote island from eternal night!
Tiny Tina is the narrator of the game/story. In the beginning she states that she will not start the game until Roland arrives. Lilith tries to convince Tina that Roland is gone, but she claims "He's just late."
Eventually, Tina adds Roland to the game, and he is a knight. He seems to survive a odds. By the end, Lilith and the other players are sick of Tina talking about Roland, and try to tell her that he is dead. She admits that she knows, breaks into tears, and asks if she can finish the story.
The dlc ends with Tina hugging a statue of Roland, and claptrap saying how he loves everybody.
The loot you get is pretty good, and you get a decent amount of side quests. If you have Borderlands 2, I suggest you pick up [i]Tiny Tina's Assault on Dragon Keep[/i]. It is $10/800MP
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it's a part of the season pass, lucky me!