Here where I livec comic industry isn't that big to hold huge events and multiple series so I see this:

Schism was released inmediatly in a Hardcover and are planning to launch Wolverine and the X-Men AND Uncanny X-Men together, you buy one and got the other inside.

Should I pick up them? Is Schism necessary to understand what's going on or I should buy it for the good it is? Or it isn't good AT ALL?

It isn't good and you don't need to read it.
BB

1. It isn't necessary to read to understand what's going. The only things that occur within Schism are what you've already heard here, which is Wolverine and Cyclops get in fight (and takes issues to even get to that). The meat of what's going on now actually is shown happens in the books that occur after, and obviously they recap what happened in Schism (which again wasn't detailed nor a lot to cover).

2. The whole thing reads like space filler. In fact I would go as far as to say the whole thing is space filler, and they had to much time to kill before Regenesis so they stretched out a lot of nothing longer than it should have been to compensate. The quality of the story isn't very good either.

3. Personally I say pass. Think of it more or less like some side mini series that came out to highlight a ton of dialogue and a quick fight, and not essential to the actual timeline. They could have easily done this whole thing in one issue of Uncanny.

Don't read Schism.

Don't read Schism because it will cause u to commit a Schism!!

(*ewww... that sounds nasty!!!*)