Oh, Hal Jordan. You and I have such a terrible relationship, and it was not improved by Rage of the Red Lanterns.
To be sure, there is some interesting stuff here, including the birth of a new Corps. and the creation of a new division within the Green Lantern Corps. But the focus of the book - and this sucks if you're not a fan - is on Hal Jordan, how awesome he is, and on his ever-evolving relationship with Sinestro. And that other stuff can't save this book for me because Hal is Just. So. Whiny.
I can't blame the authors on this. I think this is how he's usually written, with this massive ego and irritation at everyone around who doesn't react to him in just the way he thinks they ought. But if you don't like Hal, steer clear - I suspect this won't improve his standing in your eyes.
Overall, it's nice to get to see more of the red lanterns, though we don't get too deep into them. They're angry, they have reason to be, RRRRAAAAAARGH! Also, the blue lanterns spend the trade more or less being made fun of, which is a shame since Saint Walker and Warth are enigmatic and a bit fascinating to me in this book.