These issues are a Frightful Four romp, but they also introduce The Wizard’s ex-wife (Salamandra) and daughter (Cole Whittman). Sadly, these women are never seen again.
Salamandra calls herself the “Dragon’s Daughter.” Her father was the K’un Lun dragon who had taken on a human form and romanced her mother. She and Wizard never actually had sex—he artificially inseminated her because she found him repulsive. It’s little details like that that separate good from great writers. Mark Waid is a great writer.
Their daughter, Cole Whittman, inherited her father’s gravity powers. She infiltrates the FF by flirting with Johnny Storm who, apparently, is not difficult to seduce. However, he’s also a nice guy, so eventually Cole turns on her father and sides with the FF before running away and going into hiding.
Despite having been defeated last story, Hydro-Man is back as part of the Frightful Four, and he’s enhanced thanks to Wizard’s technological wizardry. At one point, he serves as the water for Salamandra to take a bubble bath.
This is another really good story—nothing important or anything, just good superheroics with well-done dialogue and lots of humor.