I went my way and catched up with this, I actually find it quite enjoyable as the lover of D-listers that I am. It has always been a wonder why I never got into the Defenders since they incarnate the love of unknown/underdevelopped/one-shot characters I adore.
I do like this ongoing so far, but is it me or it tries too hard to be like Planetary?
So this is getting cancelled: http://www.comicbookresources.com/?page=article&id=40367
Too bad since it was actually picking up steam and becoming on of Fraction's few good books out there. It gives me a glimmer of hope for FF, because it was wacky.