Shin Megami Tensei

Basically what the question title says. I want to know if this is a remake of the NES Megami Tensei game. I gave the NES game a spin a few years back, but since it was entirely in Japanese (and playing RPGs with no translation isn't very fun IMHO) I could never get into it. However, I discovered that AGTP had finished translating this, and I thought I'd give it a go. I was just really wondering if it was a remake or not, out of curiosity.

Additional details - 5/18 3:58PM

I don't need any real plot information. Basically I'm just asking yes or no. However, if this isn't a remake, maybe someone could tell me where I could find more information to fill in the gap of what happened since I am unable to find a transcript or translation or anything like that at this time.

Additional details - 6/21 9:33PM

In response to Black Murasame's answer, I should alter my question slightly to say "Is this the first/beginning of the Megami Tensei series then?" I apologize for my lack of knowledge about the series roots as it's almost all Japanese with little information I can find regarding the earlier entries...