Sadly this post got buried, but I'll give it a shot.
I wasn't much of a Marvel reader, I had read some Spidey and FF as a kid and recently had read McFarlane's Spider-Man and some X books. I had gotten into a few Image titles and so when Heroes Reborn was announced I jumped on it. And it mosty sucked, but somehow I kept with those 4 books up until Heroes Return. I got the first issue of each and jumped off at that point. But I liked Avengers #1 and I just kept reading it.
Yes, the Perez art was one of the main draws to that book. But this is where I got to know Busiek. He seems to be a fan of continuity, of recognizing what went before and making use of it in a new story, which speaks to my fanboy mentality. It also made me familiar with a whole bunch of Avengers related characters that I didn't know anything about. I can't sit here and recount specific stories, because it all blends together. I actually don't remember a lot of the run, so that must mean something, but I remember liking it. This is when they brought back Wonder Man in his ionic form, right? And Triathalon became a big deal. I actually remember the Avengers Forever maxi-series a little better, with it's time-travel continuity porn. The weird war between Kang and Immortus who were actually the same person, right? And somehow the Kree Supreme Intelligence was involved.
I stuck with the book even after that team left, up until Disassembled. I followed New Avengers for a while, it was certainly a different book and while not entirely bad, wasn't great either.
Two things I hated about the run were ionic Wonder Man (my instinctive reaction is always to hate all energy beings) and the Triathlon story line.
Thanks for replying! I was beginning to think nobody cared about the Busiek/Perez run!