This issue really did it for me. There is a moment in this story where Conan does something that my friend once did in a fight. It was brilliant, I've been thinking of incorporating it into a story for a while (and I still might as it played out a little differently). While this issue doesn't offer as great a jumping on point as the last, it kicks ass for people who are already reading. I enjoyed every page. The dialogue is perfect. The way each character tries to intimidate or second-guess the others (which gets twisted on them a little later) is awesome. Conan is surrounded and watching the way he tries to get out of it is great. Just as you're like well surely they would… They do. It's so satisfying when the reactions feel natural and not just forced 'because story' that other comics do.
This story is reaching its crescendo and the buildup for the end of this arc has been perfectly paced. Once again the issue ends and I immediately went back to read it through again, only this time really soaking in the artwork (I'm still not a massive fan of Ching's Conan, but he has grown on me).
I regularly bemoan wasted page-space, so when 7 of the 22 pages (6 are double pagers) that contribute to the story are full-page art with no panels, I would expect to be unhappy. Only I'm not, the art work is top-notch, as is expected now from Brian Ching. The way the story has been written allows these large splash pages to shine. They move the story forward while also giving you some good eye candy.
Just to point out, I really wanted to give this a 5 but I had a few quibbles. Also I'm hoping they slay it with the next issue. If so it'll be a 5 for sure.