What doesn't it do? It does not attempt to recreate the sound quality or specific nuances of synthesizers. Every synth sounds different. The formats aim is to get similar sounds into new synthesizers that adopt the universal format. Not all tags will be read by every synthesizer. It is a general format.
USPF is similar to XML and html. There are tags, comments, etc. If you can program a webpage, you can make a USPF file.
Right now things are in initial stages. If you'd like to help develop it further please contact me through this forum.
An example of what USPF tags looks like:
<filter id="1" type="LP,-13db" cutoff="1/4" mod="1" velocity="1">
<osc id="1" type="square" width="9/10" portamento="on" legato="off" time="13" velocity="1" mod="5">
</filter><osc id="2" type="triangle">
Knob values are in fractions because synthesizers have different ranges!
Download the full beta file w/ comments here.
Some work needs to be done on documenting specifics of oscillators, envelopes, mods, and maybe different engine types etc.