I have to admit, when DC came out and said they were re-vamping their universe, I was excited. Call it what you want, reboot, re-vamp, brand new universe whatever, it's all the same. They had aimed to take away a significant market share from Marvel and they have succeeded in doing so.
To be honest though, a year and a half in, specifically from a continuity perspective I am not sure if they have succeeded in that aspect. If I worked them, I would have set out a universe bible that dictated exactly what did and didn't happen, give to all of the writers scheduled to write the first story arc, and the bible would be passed on from then. It has been pretty confusing in some regards, but very fluid in others, at least in my mind.
To be honest though, I really don't see how any one can follow Marvel nowadays. Seems like every six months they are pushing out another reboot, re-numbering the issues, multiple issue crossovers and all that can get incredibly confusing. Hickman's runs on Fantastic Four, Secret Warriors and the Dan Slott run on Spider Man are about the only things of merit in my mind.