It is very varied - Some of their members are fairly liberal (Dorgan, Kerry,...), other are conservative Democrats (Landrieu, Pryor,...).
For some people on GD and GDP, DLC is synonym of Bushlite, largely because the founders (From and Reed) have issues with Dean.
http://www.ndol.org/About the Democratic Leadership Council
Who We Are:
THE NEW DEMOCRAT CREDO:
In keeping with our party's grand tradition, we reaffirm Jefferson's belief in individual liberty and capacity for self-government. We endorse Jackson's credo of equal opportunity for all, special privileges for none. We embrace Roosevelt's thirst for innovation and Kennedy's summons to civic duty. And we intend to carry on Clinton's insistence upon new means to achieve progressive ideals.... (More.)
The Democratic Leadership Council is an idea center, catalyst, and national voice for a reform movement that is reshaping American politics by moving it beyond the old left-right debate. Under the leadership of founder and CEO Al From, the DLC seeks to define and galvanize popular support for a new public philosophy built on progressive ideals, mainstream values, and innovative, non bureaucratic, market-based solutions. At its heart are three principles: promoting opportunity for all; demanding responsibility from everyone; and fostering a new sense of community.
Since its inception, the DLC has championed policies from spurring private sector economic growth, fiscal discipline and community policing to work based welfare reform, expanded international trade, and national service.
Throughout the 90's, innovative, New Democrat policies implemented by former DLC Chairman President Bill Clinton helped to produce the longest period of sustained economic growth in our history, the lowest unemployment in a generation, 22 million new jobs; and helped to cut the welfare rolls in half, reduce the crime rate for seven straight years, balance the budget and streamline the federal bureaucracy to its smallest size since the Kennedy administration.
Now, with the help of Chairman Senator Evan Bayh (D-IN), the DLC is promoting new ideas -- such as a second generation of environmental protection and new economy and technology development strategies -- at the local, state, and national levels, working through a national network of reformers and practitioners, and offering an approach to governing that is distinctly different from traditional liberalism and conservatism to build the next generation of America's leaders.
The DLC publishes Blueprint: Ideas for a New Century, an innovative policy journal aimed at identifying the central ideas and policies that will guide American politics in the 21st century. The DLC also provides daily political commentary and analysis through its online newsletter, "The New Dem Daily," published every business day on NDOL.org and circulated by email to thousands of opinion leaders and policy makers in Washington and around the country.
The DLC was founded in 1985. The past chairs include former President Bill Clinton, Sen. Joseph Lieberman of Connecticut, former Rep. Dave McCurdy of Oklahoma, Sen. John Breaux of Louisiana, former Sen. Sam Nunn of Georgia, former Sen. Charles Robb of Virginia and House Democratic Leader Richard Gephardt of Missouri.