Avengers Vs. X-Men was some great storytelling... in the other books! Really enjoyed the senseless fighting in A vs. X, Uncanny X-Men, Wolverine & the X-Men, X-Men Legacy and Avengers Academy. Also enjoyed Avengers, New Avengers, Secret Avengers to lesser degrees. Seems like they left all the good stuff out of the main book.
I'm really excited about Uncanny Avengers and All New X-Men, though. I think there is some great story potential.