Now that the NDA has been relaxed, I believe I can safely say that I'm in the beta, and I did start a Fisher in phase 3. You start with a fishing rod, 99 bloodworms, and a fishing hat. However, the hat comes at the expense of having no body piece.
The fishing minigame is a bit more complicated than FFXI. You choose the depth you want to cast in, cast your line, then have the option of Wait, Jig, or Cancel. You need to use Jig to catch fish, and there's a moving indicator when you're using Jig. It's a tad hard to explain without pictures, but I don't have Fraps or anything like that.
I average about 100 class points if I get a bite but don't reel anything in, and around 200 if I do actually catch something. Once they reactivate the beta (it's been temporarily suspended due to technical issues), I'll try some different baits and lures to see what else I can catch.