I need to ponder this a lot more.
On the one hand, I'm screaming at this, but the other parts of me realise the potential too. I can see the good, bad, and annoying in the situation. My only thing is, if they do this, I want them to just go ahead AND DO IT. Commit. Dive in. Don't pull an original Crisis, do things half-assed, reboot half your stuff and try to keep your old continuity too.
Because that? That was a frigging mess and a nightmare.
I'll post more on this as I work out what I think.
Or, hey, come find me in #comicbooks on IRC to chat about it!
Ahh, shameless plug.