It's not a total reboot though, MarvelNOW is just ending the avengersvsxmen thing and showing what is happening next in the universe with those characters. Sadly it's not a total reboot like DC did. Also this time travel thing is just a way to bring Jean Gray back xD Though hopefully it means less x-men titles cos there were like 20 of them at once and it's silly, just have a couple going. But yeah this stuff looks like it could be good. Though some of the new costumes are bad: Cyclops with x shaped vizor, Hulk with armour, Thor with swords instead of a cape (he has a hammer he needs no swords). However Rocket Racoon is back which is epic xD
The Jean Gray thing won't last. It's a Jean Gray from waaayyyy before her death from what I can tell.