Your enjoyment of this story comes down to one important question - are you a fan of the Keith Giffen & J.M. Dematteis Justice League series? If the answer is yes then you will love this book. Larfleeze is basically Chuck Jones' Daffy Duck (i.e. I'm a coward, but I'm a GREEDY little coward) with the power to back up his laughably overblown opinion of himself. He is joined by a new comedic foil - an alien slave, er butler who plays the L-Ron to Larfleeze's Maxwell Lord.
Most of the plot of this issue (what little of it there is) has Larfleeze retelling his life's story to his current slave - er, butler - as he waits for an inevitable death on the edge of the universe. How he got to this point is unexplained but I'd wager it has something to do with Larfleeze's making war on The Green Lantern Corps in the pages of Green Lantern and Green Lantern Corps in this month's issues of those titles. Way to kill the suspense, editors!
The artwork of Scott Kolins is equally divisive. Either you like it or you don't and I most assuredly don't. Kolins underinks his work to a ludicrous degree given the intricacy of his line-work. This problem is only aggravated by Kolins' regular colorist Mike Atiyeh, whose efforts at providing a "tint" to a scene generally leave everything nearly the same color. There are several points where only Kolins' habit of highlighting important figures with a thicker black line than everything else save the characters from blending into the background entirely.
Bottom Line? I won't be back next month and if I can't be sold on this title I doubt even the rest of the Green Lantern family of books will be able to prop it up long.