I don't think so. From what I've read and interpreted, I think the game will deeply focus on Kratos' life in the Norse world and his relationship with his son. Doesn't seem to me that there will be flashbacks to the narrative of the previous games.
Maybe loose references to his impact on Olympus, but I think that'd be it.
As for the reviews, what's psyching me out is that this is receiving praise over all of the other predecessors from some publications. 'Most emotional, stirring game in the series' 'Kratos is at his most well-developed' yadda, yadda. I love the crap out of God of War 1 and 2 so my expectations are pretty high now.