Pros: real fun comic. Booster Gold goes time travelling with "Rip Hunter" across DC's history and tries to right some wrongs. Booster inadvertently helped make DC history by suggesting to Sinestro about setting up a corp, making Hal Jodan the greatest Green Lantern by persuading Guy Gardner to go home and make peace with his dad and causing the lightning bolt that gave Barry Allen super-speed. Also, Ted Kord is back! However, the world must not know he is alive but that doesn't bother me. Blue and Gold are back together again. Yay!
Cons: If you're new to DC, boy, is this book not for you. Seriously, this entire book is a fanwank and not newbie friendly at all. Which is a pity because there's some good, old-school superhero adventures in here. Go back and get Batman: The Killing Joke, all four volumes of 52, Crisis on Infinite Earths, Countdown to Infinite Crisis (that one-shot where Blue Beetle died), Infinite Crisis...oh, heck. Just get all DC's big-event books from the past twenty years before picking up 52 Pick-Up. Paul Levitz will thank you.
Or you could just pick up all four trades of the new Blue Beetle currently available instead of this book and I will thank you. Either way is good.