As some people may know, this is the first Image comic I have ever read. I have to say I enjoyed it very much.
Very possibly the thing I enjoyed the most is Fabian's abilities and their origin. They're very distinctive and very intriguing. But this doesn't necessarily have anything to do with the book itself, I just wanted to throw that out there.
The motivation for Fabian felt very genuine and this character development was handled very well, IMO. The writer also perfectly illustrated that he isn't a Superman with an unshakable moral campus. He's a human who has done things he isn't proud of, but he still tries to make things right.
Speaking of illustrating; Chris Mooneyham's art is fantastic. This style he has may not be everyone's cup of tea, but it fit the the comic perfectly, IMO. Additionally, I really liked how the covers for the individual issues looked like something you'd find in an old pulp fiction mag.
My only complaint about this trade would be that Fabian's dialogue in the last couple issue felt a bit... campy in a few spots. Which, at least for me, really isn't that big a deal in the end.
To sum up; I would definitely recommend this. It left me hungry for more Five Ghosts.
And this is probably the longest review I'll do in awhile....