I suppose the good thing is now Action Comics and Superman can now synch up in both the fictional timeframe they cover and their take on Superman. The bad news is that Action Comics and Superman can now synch up in both the fictional timeframe they cover and their take on Superman.
At very least a writer on the Superman title is more free to write stories of substance without worrying it's going to contradict Morrison's plans and we don't get more brain controlling nanites and Russian submarines and rejects from the Wildstorm universe.
Whoever takes over Action Comics I hope they play with Morrison's take on Superman in their own way instead of just ignoring it.
The weird thing is I feel that a lot of Grant's ideas he's used in Action Comics could easily be appealing to new readers that have never given the character a chance if only the were written by a writer that's a little more...casual friendly as opposed to the complex (or convoluted depending on your view) writing Grant is known for.
I'd really love an Untold Tales of Superman book set in the jeans and T-Shirt/early kryptonian suit era and style it like a quasi 40s and 50s Metropolis. I know such a book will never happen and if it did it wouldn't last but I'd really like it.