I'm not sure how this is going to work, but X-Men Legacy will be reverting to #1 as part of the Marvel NOW revamp of of the Marvel Universe.
So far, so good, but apparently the focus is going to be on Professor Xavier's mad-as-a-cut-snake, but very dangerous and powerful son, Legion. I can't say I'm a huge fan of this character, and I'm not at all sure how he could be used in a semi-solo book like this. It will certainly make a change from X-Men Legacy's focus on Rogue for the past few years (with Rogue now becoming part of the Uncanny Avengers X-Men/Avengers mash-up team that Marvel is now creating). Your interpretation of the cover, with Legion in a straitjacket and the fragments of several important X-Men characters (in his mind?), is likely to be just as good as mine.
Some of these Marvel NOW rearrangements seem a little crazy, but you at least have to give whoever is dreaming them up a few points for originality. The main Marvel Universe is getting shaken up dramatically, if these announcements far in advance are anything to go by.
I suppose I should at least try out the first issue of this one, and see whether it hooks me.