Yes its canonical in the respect that in in 2387 Romulus is under threat from a supernova and ultimately is destroyed before Spock can save it using "red matter". Spock does stop the supernova with the red matter, but creates a black hole which sucks him, and Nero and his crew back into into 2233, the year Kirk is born. Nero decides that Spock deliberately didn't save Vulcan, and goes insane over the loss of his wife and child... and decides to hunt down Spock.
This creates a second timeline, so in the prime line, Nero and Spock go missing, and Romulus is still destroyed, and Star Trek Online (the MMORPG) will continue with the Prime Line...
Meanwhile in the alternate universe...
2258, Vulcan is destroyed and Spock takes a role in helping the now homeless Vulcan's set up their civilization all over again.
Its quantum mechanics/Sliders/Doctor Who Cybermen episodes time travel, not Back to the Future timetravel.
So do the stories of the new movies and the 60's series marry exactly? No... Do thinks change? Yes.
Do they do an excellent job of bringing back the characters and reviving a flagging franchise. Hell YEAH!
The most major difference between the prime and alternative universe? The alternative universe is much more "lens flarey"
i saw itlast night and thought it was great. One thing that bothered me though waas the drilling. Surely anything bigger than a spud gun with a decent shooter behind it could've broken it from the planet level.
Is the incidental music done by the same guy who did the Lost music? There are lots of similarities.