OE poetry is written in “half-lines.” It’s a highly stylized form. I’ve found a page that explains the “half-lines” and some of the other structural rules: http://www.sp.uconn.edu/~mwh95001/oepoetry.htm
I studied medieval languages and literature in grad school. I got my degree more than 10 years ago, and didn’t go into it professionally, so I can’t call myself an expert in this area; however, one thing I remember from my studies is that Beowulf can not be considered as a general example of OE. This one poem contains hundreds of words that do not appear in any other surviving text (I’ll see if I can find a cite for this), and is more stylistically complex than the usual poetry of the era.
I had to translate quite a bit of OE for my degree–you can see some examples at the Georgetown site:
OE is closer to the Germanic languages than modern English, but once you have the basic vocabulary and grammar, most of the poems are fairly easy to read. Beowulf is much more difficult, and I never managed it without resorting to the glossary and previously translated versions.