I know this will probably irritate a lot of people, so I appolagize in advance. My opinion.
I thought the original Excaliber sucked. It wandered aimlessly and wasted one of my favorite character, Kitty Pryde. I also liked Rachel but don't particularly feel the need to have her back. I don't think she belongs in this timeline. The only good thing that came out of Excaliber was Pete Wisdom. I liked the interplay between Kitty and Pete. I prefered them as a couple to Kitty and Collosus, whom I found to be a boring character.
I agree with an earlier statement: stop creating all these new spinoff books and just concentrate on one or two really good X books.

"woke up to a world that I am not a part except when I can play it's stranger"