After the disappointing way the LSV arc wrapped up prior to Flashpoint, I was pleasently suprised how much I enjoyed both of the new Legion # 1's. 

Great to see some of the new characters getting significant screen time in the main book, since a lot of the "newer" Legionarres were moved over to the Legion Lost series.  Also loved all the character bits after so much focus on action during the LSV arc.  I was suprised to see the fact that a certain long time member's tendency to get get his hat handed to him in a fight lately actually turned out to be a plot device, not just lazy writing. 

Legion Lost #1 was even better IMO.  While Levitz's book had a lot of references felt very tied to the old continuity, this one felt like a real #1 issue.  Though you are dumped into the middle of an ongoing situation, so it's not an origin type story for those who were looking for that in a #1 issue.  But you certainly don't have to have read any of Johns' or Levitz's retro-boot Legion to jump into this one - though I probably wouldn't recommend it to someone completely new to the Legion.  It's certainly not a more "new reader friendly" Legion series.