I have to admit, I'm a little disappointed, but after how much I loved Meltzer's first issue, that was almost inevitable. The big mystery set up in the first issue is solved a little too quickly (and not completely believably, for my tastes) and the new mystery that is now driving the arc isn't quite as intriguing. On the upside, the idea behind the Shade's involvement is an interesting side of super-hero lives we don't usually see, and Meltzer continues to hit the balance between new-reader accessibility and old-school nostalgia that Smith brought to the book. And of course, Hester and Parks provide more than just artistic continuity between the two runs, but top notch artwork that should keep fans plenty happy with the visuals in the book.
Meltzer has a great handle on these characters, from Green Arrow to Arsenal to the Shade, and that strength of characterization is the strength of the book. Fittingly, this is the strength that Smith brought as well, and while Meltzer's style is not quite as aimed at the humorous side as Smith's, I think that shift to a slightly more serious tone overall has helped the book. But the sense of understanding Oliver Queen, as both a hero and a man, getting to his conflicted nature, definitely comes through in this issue. And Meltzer gets to the same annoying arrogance and likable charisma blend that was the hallmark of James Robinson's take on The Shade.
In addition, the plot has a neat central idea. What happens to the heroes' secret identities after they die? Is it even a consideration? The explanation given for how they try to clean up didn't exactly work for me, as we're either to believe that they always failed (it sure seems like everyone knows who Hal and Ollie are at this point) or asked to believe that they didn't, which seems at odds with what we've seen in other books. I'm also not entirely sure why Cat-Man needed to be involved other than as a red herring... sure, Shade was worried about Jay Garrick recognizing him at the funeral, but was nobody worried that maybe Batman, with much greater powers of perception, would remember Cat-Man?
Leaving aside a few flaws in logic, though, and that I was hoping for a more intricate plot as to why Cat-Man was at the funeral than "he was hired to be there," I'm still interested in seeing where this plot goes. While Smith took Ollie through a tour of his spiritual roots, Meltzer seems to be examining the more physical ones, from connections to former sidekicks and lovers to artifacts like his "Arrowcave" and other gadgets. In many ways, the story arc is worth it for the interplay of the extended Arrow "family" (Arsenal, Ollie, Connor and Dinah) all by itself.
As always, Hester and Parks impress. Matt Wagner does fantastic covers, and he's a boon to this series, but this is not a case where the interior art is a letdown after the beautiful cover. I particularly enjoyed their long profile shots of the characters involved in the panels, whether it's Ollie and Shade during their argument or Ollie and Roy as they pace off to take their target practice. And the design that Hester has used for Green Arrow has become, in my mind, a definitive look, one that Yvel Guichet has clearly been influenced by in his work over on JLA.