hello, i had read comics somewhere in the range of the last 20+ years and recently havent been able to squeeze them into my schedule with work and kids and all. ive seen mention of and i know a little of somethin called House of M over in marvel. then does that link into this 198 is it? (of course when i stop reading Marvel finally has a big story worth reading)

then over in DC. i had last read identity somethin or another. where atom's wife was steppin on arteries (or somethin along those lines) has antman re-appeared? how did all that leads into the OMAC thing which lead to Blue Beetles death (upsetting, loved him) into now Identity crisis (i think)

i know its quite a bit im askin for, but some form of answers may help me outta the dark a little. thanks

Yes, 198 is a direct consequence of the events in House of M.

For DC, events in the DC Universe over the last 2 years have led up to the current mega-event, Infinite Crisis. Recommended reading to prepare for Infinite Crisis:

Crisis on Infinite Earths
Identity Crisis
Countdown to Infinite Crisis
Prelude to Infinite Crisis
The OMAC Project
Villains United
Day of Vengeance
The Rann/Thanagar War
Infinite Crisis