It is very interesting to me that Brian Reed's strongest parts in this issue are the funny bits he gets to do with Deadpool. At first, I was annoyed to see DP show up here, since he's all over the freaking Marvel U these days, but I have to say, he comes off pretty well here. There is some sort of weird over-story with some babies who are "storytellers" and Ms. Marvel being split into 4 different colored light beings. I don't really understand any of that, so obviously I don't think that the story is very compelling.
However, Reed does pretty well with his guest stars. Wolverine is amusing in his dismissive greeting when Spider-Man arrives on the scene. Deadpool vs. Moonstone is a pretty amusing fight, with the battling captions and dialogue from ther merc working well (and best of all, DP provides the editorial boxes for the issue). So there is some good stuff here, but those parts are buried under a greater story that is in no way working for me.
Sergio Arino's art is ok. He's not as much of a cheesecake artist as some recent Ms. Marvel artists, which is nice, but his work doesn't exactly wow me yet either.