In a lot of ways, this is a fitting finale to the X-Men mythos. It's loud, has way too many characters, an overly-convoluted plotline, ridiculous dialog, gaping (or, perhaps, simply unexplained) plot holes, overused characters no one cares about, resurrections, clones, unbelievable plot twists, dialog where thought bubbles should be, and tons of fighting. If you look back fondly at the Claremont era of the X-Men, then this will satisfy something.
Having said that, I grew up on the Claremont era of X-Men, which I can go back and read with enjoyment, but the same plot lines used in the new millenium seem infantile. It's exactly like reading a classic novel. I might enjoy, say, a Dickens occasionally, but if you write a book like that now, I'm just going to make fun of you. So this book seems sort of ridiculous at face value, meaning I'm reading it more as an homage than as a book in its own right.
Claremont does a fitting job of bringing in a TON of plotlines together for this story, for better or worse, and it does provide at least some semblance of an end to things. It has some very satisfying moments, some annoying moments, and at least one moment that leaves me scratching my head about canonicity (the twist involving Gambit (this isn't canon, right?))
Unfortunately, even for what this book is, the ending is ridiculously cheesy--just when things are looking like there's going to be a true finale, everybody holds hands and flies to heaven together. (Just kidding--but really only partly kidding.)
Anyway, this book is what I thought it would be--it's Claremont 2004 (or whatever) still being Claremont 1977 (or whatever). But at least this time he has an excuse.