Is Superman/Batman set in regular continuity?

I ask this question because as of this writing, almost everyone in the mainstream DC Universe considers Bruce Wayne to be dead (even though he's not, but that's another story). However, in the ongoing Superman/Batman series, it's as though the Final Crisis never happened, and Bruce is still Batman.

Can someone explain this to me?

" @TheBatman586: Superman/Batman is set in retroactive continuity.  "

" @TheBatman586:  Its suppose to be "out" of continuity yet several issues plainly set foot in current continuity. There are several issues in which events clearly take place after events in current continuity. Like Batman talking about how he enjoyed knocking out Lady Shiva for what she did to Catwoman. An obvious reference to the Hush arc. The DCU has come out and said its not in continuity, yet several of the first issues in the series were. It was briefly discussed here. "

I think the first couple years were in continuity but I stopped reading after that so I dont know exactly when it split off.
All of Jeph Loeb's issue are in continuity.