I was gonna buy the Azzarello/Lee run based on the creative team anyway. I could care less about what "time line" its set in, though now I have to disregard everything I already own - including The Wedding Album and Superman/Bugs Bunny - just to be able to read the new stuff.
Also, how are other titles featuring Supes and his "family" - i.e. JLA, Superman/Batman, and Teen Titans (Superboy) - gonna handle all this?