No, but if it is good, and they're not making the continuity jive with 'Wolverine' or 'X3', you may be okay with forgetting the mentioned films.
Some may ask, "How do we know if they're ignoring the continuity of these films?"
Well, let's think of things they'd have to watch out for. All the mutant cameos seen in 'Wolverine' were of mutants that have yet to meet with Xavier. Though names may not have been mentioned, it was more than obvious that some of these cameos are a film counterpart to a character in the comics - Cyclops, Emma Frost, Quicksilver and Banshee.
Now, two of these characters are officially in the film - Emma Frost and Banshee. If the entire film does take place in the 60's, then it would be impossible for them to have their roles in 'Wolverine'. You can tell me all you want that, since Emma and Banshee weren't referred to by name, they're not those characters, but that would be utter bull. If the film does indeed take place entirely in the 60's, then they are flat-out ignoring the continuity of 'Wolverine'. If part of the film takes place fifteen-ish years prior to 'X-Men', then they may be within the continuity.
An example for 'X3' - in the origin scene for Jean, it was both Charles and Magneto. This would mean that they'd have to be allies/colleagues/friends for at least twenty-some years (starting from the the 60's) before going their separate ways. If Charles and Erik start to have major problems in 'First Class', then one may argue that they're ignoring the continuity of 'X3'.