As for the stories, they've been reviewed here as they were released, so I'll avoid repeating what's already been said except to point out that I respectfully disagree with D&C's concerns about too many talking heads and too little action.
Comics may be a natural action medium, but romance comics used to sell millions, and many successful Marvel and DC comics over the years have been action-lite. Alan Moore's magnificent Swamp Thing comes to mind, and his seminal Watchmen featured characters standing around talking in very staid 9-panel layouts, while his script was seriously exposition-heavy. Claremont's classic X-Men issues with John Byrne had more than a few talky moments too.
As far as the Alt★Hero artists go, Richard Bonk draws pretty talking heads and uses plenty of nice angles and widescreen shots already, and Cliff's stuff is full of energy even when it's pages of dialogue.
Finally, being a big fan of Jon's own work, I bothered to crack my Flying Sparks softcovers and discovered repeated instances of 3-5 pages of the exact same thing (in volume 1 at least).
My two favorite Alt★Hero scenes to date both involved Hammer and Rebel sitting in a car. Great characterization, and nobody needed a window punched in to fire up my interest.
In summary, super work, guys. Looking forward to the Avalon omnibus.