This was a decent issue. It wasn't terrible by any means but it wasn't all that fantastic either. It's crazy because I totally expected to like this better than Green Lanterns Rebirth #1 and it totally wasn't the case. The best thing about this issue on the whole is Ethan Van Sciver's art which amazing as usual! (Seriously, has this guy ever done any bad art in his career?) Just the image of Hal smithing together a new power ring is awesome to look at and the splash pages toward the end where he recites the oath is a really sweet fanboy moment.
However, my biggest issue with this comic was that it was both too simple and too complicated at the exact same time. What do I mean by this? Well, first off its a setup comic and an extremely basic one at that. Sinestro has something up his sleeve and Hal Jordan makes a new ring to become Green Lantern once again. That's it. But while this is happening, the comic seemed to really rush through the explanation of his time as a renegade which may confuse new readers. "What's this whole thing with the gauntlet? Why is Hal having to make a new ring? What happened to his old one? Why does Sinestro look so old now? What happened to him? Where are the other Earth Green Lanterns and why is Hal searching for them?" These things have either been explained far too briefly or none at all.
Overall, it's worth picking up just for the awesome art itself. Just don't come in to this expecting anything other than setup.