I originally dismissed this as yet another silly crossover that focuses on time-travel and parallel dimensions, but I read everything over the weekend and it's surprisingly good (or at least, better than any crossover event that Marvel has done in the past few years.)
I'm not updated on the Spiderman franchise, so I have no idea who Morlun is and his history with Parker, and the book didn't provide much except for passing mentions, but prior knowledge is a must if you want to get everything. A simple wiki should be enough.
Familiarity with the Superior Spiderman thingie is also a plus if you want to enjoy the story arc, though not a requirement. Basically, the event itself centers on Peter after he's regained his body from Doc Ock, but when all the spidermen from different times and realities assemble, the Peter and Doc Ock spideys meet (with Doc Ock mistaking Peter as a Spiderman from the past, because he can't imagine losing the body back to its original owner.)
If anything, it's fun seeing all the different spideys: steampunk spider woman, bruce banner spiderman, captain britain spider-man, uncle ben spider-man, the japanese Spiderman from his TV show (along with his robot leopardon), 2099, punk rock spiderman, comic strip spiderman, archie spider-girl, videogame spiderman, etc. Highlight is the monkey spider-man, who thought SpiderHam was ridiculous.
