Yes, it follows the same continuity, but its a more 'mature' theme so it may not seem like its following the same continuity since it tends to have stories that aren't the norm for Spider-man titles. I've read the first few issues and I must say they're great, but as of yet I haven't seen any tie-ins with other Spider-man titles, so the series itself is pretty much standalone at this point, even though it does not follow a different continuity. Marvel Knights titles tend to be more mature and 'real-world' oriented, though they usually stick close to the fantasy of the ongoing titles. The fact that the stories are so vastly different and more adult oriented are what make it a bit confusing...for example, if you read Captain America, you'll notice that the storyline is completely different than it would be if you were reading Marvel Knights: Captain America. The 'Disassembled' storyline affecting the Marvel Universe right now seems to have no bearing at all on the Knights title of Captain America and others. So in short, it is the same continuity, just a different aspect of it. The stories are more mature oriented (hence more violence, blood, sexuality and mature themes than normal), and do not usually reflect what occurs in the other titles. Its basically a standalone series that does not take place in an 'alternate' setting.