I believe I own every appearance of the Moon Knight character from his debut in Werewolf by Night to the new Charlie Houston series, so I think that makes me some-what of an expert on the character. Over the years Moon Knight has gone through numerous tweaks and changes, some good and some not so good. I have seen Moon Knight go from a low level powered superhero after being bitten by a Werewolf, to being a cheap imitation Batman, to being an Egyptian decked out minor hero. The new series has turned him into a psychotic schizophrenic vigilante- and finally made him into the character he is capable of being- interesting and with depth.
Make no mistake about it, this generation Moon Knight is NOT a hero. Oh, he will be listed in the Handbooks as a "good guy" but he's not. He's more akin to the Punisher (who makes a brief appearance in this book), the only thing separating them is, so far, Moon Knight isn't killing everyone. He is only torturing and dismembering them. The violence in this book is a little too much at times. Moon Knight is constantly disfiguring and torturing people and there is a lot of blood, but his interaction with the disfigured Bushman/Khonsu character is excellent.
The only negative, and the thing which keeps me from giving it five stars, is the rewriting of his continuity without explanation. Marc Spector (Moon Knight) went from being a mercenary presumably based around the Vietnam era, to a thirty-something former Iraq War veteran. It's a common problem as heroes age but Marc Spector hasn't aged proportionately to Spider-Man (who also appears briefly in this series). Spiderman, as a teenager, interacted with Moon Knight years ago, now Peter Parker is (in this continuity) knocking on thirty himself and Marc Spector has regressed in age. Marvel is on the verge of having to do a DC Universe Crisis type event to address these situations. I do think the re-writing of Moon Knight's history was a bit unnecessary as the character would work just as well as a mid-40's nearly over the hill, banged up, anti-hero.
This edition also contains the Moon Knight Annual 1 which, in my opinion, was an awful, simplistic, issue. I don't think it took away from the addition, but it didn't add anything either.
Finally, bringing Frenchie "out of the closet" as a homosexual was an interesting twist that finally brought some depth to the most two dimensional character of the Moon Knight family. His interaction with Marc Spector brings a fantastic sense of reality to the book and finally gave Frenchie a purpose other than being a glorified helicopter pilot.
Guest appearances in this edition: Spiderman (brief), The Punisher, Captain America (Brief, as Steve Rogers), Ironman (as Tony Stark)