I'm surprised at how much pathos and depth that Johns was able to convey from such an absurd character like Hector Hammond. Maybe you never quite sympathize with this monster, but you certainly can see where he's coming from (and maybe even feel sorry for him.) The opening fantasy with him saving Carol Ferris and vanquishing a deformed Hal really crystallized the villains' dilemma and the appeal the Orange Lantern would have on him. Also, while it might have run a little silly for some, I enjoyed Larfleeze's twisted view of Santa Claus and his cartoonish efforts to use jolly ol' Saint Nick to, at last, satisfy his every desire.
Maybe this comment runs a little fanboyish, but the creativity of GL's constructs ran a little out-of-character. I always understood that one of the key difference between Hal and Kyle was that Hal would opt for a giant baseball bat while go for some elaborately designed samurai sword (for example.) And what about GL's denial of Santa's existence? Somebody call the continuity cops, because Kris Kringle was actually a member of the Justice League for an issue, as I recall. For shame!
The Verdict - 4/5
The concepts Johns has added to Green Lantern's mythology continue to be infinitely intriguing. Even though we're however many years past the Sinestro Corps War, there's still much to be mined in the interactions of all the different corps and their respective entities. To that end, I'm intrigued to see where Hector Hammond's new relationship with the Orange Lantern will go.