Rather than taking into account all of the events in Flashpoint, the first issue of Flashpoint: Kid Flash is relatively self contained, save for a reference for issue #12 of The Flash. Not to mention, it's actually pretty good.
How often do you pick up a comic and while reading it can't help but smile because it's simply fun to read? With all the tie-ins and major story arcs, sometimes it's hard to feel really, genuinely entertained by a comic book, but if that's the kind of reading experience you've been looking for, then you need to give Flashpoint: Kid Flash Lost a look. I know, I know, it's a tie in, but trust me on this one. It's good.
This first issue doesn't immediately feel tied to the Flashpoint series until you get to the very end of the book, which isn't necessarily a bad thing. In fact, it's part of the suspense and part of what keeps the reader entertained. Gates takes the reader on a ride with Bart where he gradually begins to recognize that the world he's living in isn't his world. Bart analyzes his surroundings with the reader, and writer Sterling Gates gives Bart Allen a distinctive voice which makes the reading experience interesting.
The pacing of this issue is perfect and the characterization of Bart Allen is flawless, two reasons why the book is as entertaining as it is. The story opens with Kid Flash, who is exhausted and has been racing his Grandfather Barry Allen all across the world-- until he stops and realizes that things are not what they seem. Without spoiling too much for you, we also get the appearance of another Flash character who will likely assist Bart in uncovering the truth about his surroundings. However, it's the last page that's the real kicker. With Oliver Nome and Trevor Scott on art, the book is really well executed artistically.
There isn't much "bad" to mention about this first issue. It's a little bit unbelievable that Bart would take on the adversary in this book and get away in one piece without his powers, but that's just a minor detail.
Did it totally blow me away? No. However, it did remind me of something important that I often forget; comics and reading comics and the experience as a whole is supposed to be fun, and that's exactly what Flashpoint: Kid Flash Lost is.