It's always interesting when a couple projects featuring the same story elements are racing against the clock to launch around the same time. The advantage that Tarsem Singh's yet to be titled Snow White project has going for it is it is coming out first, March 16th, 2012. While "Snow White And The Huntsman" is not due to drop until June 1st of next year.
I would imagine that having Julia Roberts cast as the Evil Queen gives you sort of a boost, although it didn't help Tom Hanks out any. Poor "Larry Crowne" aka "Back To School: The Boring Cut".
Below is the first shot from what I will call "Singh's Earlier Snow White" via Entertainment Weekly. The lovely Lily Collins of "The Blind Side" fame looks the part. Even Prince Armie Hammer might be smitten.

In the Relativity Media release, an evil Queen (Julia Roberts) steals control of a kingdom, and an exiled princess (Collins) enlists the help of seven resourceful rebels to win back her birthright in a spirited adventure comedy filled with jealousy, romance and betrayal that will capture the imagination of audiences the world over. Armie Hammer, Nathan Lane, Robert Emms, Mare Winningham, Michael Lerner, Mark Povinelli, Jordan Prentice, Danny Woodburn, Sebastian Saraceno, Ronald Lee Clark, Martin Klebba, Joey Gnoffo and Sean Bean co-star.