A New Dawn deals with the aftermath: the Guardians are dead, the Lanterns are gone and Hal has assumed the identity of Parallax after absorbing the power of the battery. Only Ganthet managed to escape and went to Earth, where he chose a young man named Kyle Rayner in an alley and gave him the last Green Lantern ring. This story deals with Kyle’s origin story and the consequences of his recklessness as a superhero.
Say what you want about Emerald Twilight being rushed (Marz said that he wanted more issues to develop Hal’s fall from grace a lot better, but editorial couldn’t provide more time), but it definitely changed the status quo of Green Lantern and Kyle Rayner would go on to become a fan-favorite.
I think these two stories are actually very interesting in the sense that you rarely see a legend falling the way Hal did and how a new hero has to carry on the legacy of an entire army all by himself.
A true exhibition of what makes a real good Green Lantern comic.