Fear Itself has been released today, and I just finished reading book one, and I have to say that this is going to be an excellent event. You've got Sin, Red Skull's daughter, picking up a hammer like Mjolnir and Odin leading the God's out of Midgard back to Asgard.
I believed that Civil War and Seige were the best events Marvel has had, and Fear Itself might beat it by the looks of it. I really can't wait till next month to get Book 2 and find out who the Worthy are. I highly recommend any comic book reader to get this. Best part of the comic was this here:
It wasn't an all out brawl between Thor and Odin, but nontheless it was incredible and made me wanting more.
I'm not sure if the Watcher will have a role in the upcoming books, but he does make a cameo in Book One.
The Watcher & Odin
The Watcher is going to interfere. He always interferes. I'm amazed that guy still has a job. Worst Watcher ever.