I read this less than a week ago and I already had to go back and flip through the comic to remind myself of what the plot was. That should tell you something right there.
The story arc was ok but nothing was memorable about it. (Also, I hate children in stories. Babies are no exception.) The story kind of just meanders along until the main action thread wraps up and we're left with several pages of a very G rated Wolverine hanging out with Jubilee and a baby as she takes a walk down memory lane. And [he buys her a house....yeah.
All the characters were just as unmemorable in this and that's impressive considering that the story features some of the most interesting female x-men in the franchise. Additionally, everyone pretty much sounds the same and the little conflict that pops-up is extremely forced. For instance, there's a scene toward the end of the comic where Storm and Rachel start arguing. Up until that point, you never had any inkling of tension between these two characters so Rachel's outburst just seems very random, as does Storm's knowledge of what her issue is.
It sounds like I hated this more than I did. My main issue is that it was just boring. And also, while I enjoy the fact that several of my favorite female x-men are being highlighted in their own comic, I dislike that it means almost completely eliminating the male characters. It's about balance. You can feature female x-men without having to basically remove all the male x-men. In fact, removing all the male team members just does not make sense within the context of this series.
I'm not sure if I'll continue reading this series or not.