I'm a well read grad student who's bluntly honest about all things, although I try to be most honest about myself.
The title, X Marks the Spot, has two different meanings: the first story is a pirate adventure, and the second arc involves the X-Men.
Everything about Deadpool becoming a pirate is as fabulous as you'd think, including him buying the boat from some shady Russians. It's just all over-the-top, and ends up with a blind navigator - she's hot, though - in a pink pirate uniform, who's flirting with Bob - aka Captain Mr. Wilson's parrot.
It's messed up in the best way possible.
And the X-Men? It includes Deadpool making his own costume.
And more Domino/Deadpool.
Also, an overly intricate plot to make the X-Men look good, and which baffles them all until they realize there's a method to Wade's particular brand of madness. It's a nice tie-in to the whole Utopia storyline, and fits in perfectly with the overall Marvel universe. It's just absolute perfection.