Well not every part of it, him pairing up Gwen and Peter still squicks me. But at least he confronts the situation, with MJ asking if they weren't like brother and sister before...
In fact, compare Ultimate with ASM. It's been almost two years since the BND travesty began and we still don't know why Peter and MJ broke up. (you know aside of editor fiat) Yet the new Ultimate is only three issues in and Bendis is already dealing with the question of MJ and Peter's break up. Aka, she broke up with him and wouldn't tell him why. And how Peter and Gwen hooked up, aka, months after MJ broke up with him.
I'm not expecting all the answers within the first five issues, but if a writer wants his readers to move on from something, the best way to do this is to answer it and then simply go on to the stuff they're interested in writing.
It's kinda like Nova. When the new series started, some people complained about Nova coming home in the first few issues. But it was because he came home, and dealt with what he left behind that he could leave again and move on, and the readers along with him. No need to have the readers wondering about how he'd react to the Civil War, or the Initiative, or Robbie... because we were given those answers early on enough, so that the comic could set into a path of cosmic stories that the author was interested in exploring.
Amazing is so busy trying to ignore the elephant in the room, that quite basically none of the rest of the story matters anymore, because Peter sure as hell doesn't.
I also really like the current status quo with the cops and the public loving Peter. With the Bugle writing positive stories about what a hero he is. Especially because the comic makes it clear just how uncomfortable Peter is with that treatment and how little he's used to getting thank you's and cheers.
It won't last, of course it won't, and when it goes away and things go back to normal, it'll mean something, because Peter has had that, that sense of being popular, of being liked and it means he now has something to lose.
Ultimate Peter showcases what Peter should be like. Responsible, capable, smart, a true hero who can be confused and freaked out by things. Who doesn't see himself too good to do a menial job. And who's willing to work, despite being overstressed as it is.
I also like the way Bendis is building Peter's supporting cast. MJ still gets scenes, scenes that build her character beyond Peter, that show her as a person, and not just as a skirt for Peter to chase after. Same for Kitty and Gwen. And I loved that final scene with May taking in yet another lost kid*eg*
Every single char in Ultimate is golden and I'm grateful that there's at least one comic out there where aunt May can truly be her awesome self.