Yes, absolutely. Easily my favorite work of Johns. Loses just a little steam in Vol. 3, but after the events of Vol. 2 it would be hard to keep such a strong pace going. I first got into The Flash back in the Waid days, (Mostly a Marvel guy, especially back in the 90s.), but it was Johns' run that made him my favorite DC character. And he's definitely the reason the Rogues are my favorite DC villains.
A warning, though. The build's not great on the first two volumes. I think they might both be glued. Vol. 1 definitely is.