If you're like me, new to texturing with a bit of Photoshop experience and not much of an artist, you'll appreciate how this book starts slowly and builds to more and more interesting and challenging projects. You'll be surprised and pleased at what Franson can guide you into doing with so little effort on your part. You'll be pleased at finally using parts of Photoshop that you've looked at, but never tried. I think this is a great book to get you started texturing and producing some great results fast.
One great thing that I haven't seen mentioned but shouldn't be ignored is that the author has generously given us hundreds of his own digital photos on the CD to help get us started texturing right away.
However, there are a few problems, some of which people have already mentioned here. First, this book is Photoshop-specific, and that means _no_ Photoshop Elements. Some things just plain won't work with Elements (The open-source Gimp is a great workaround, even though you'll spend a lot of time learning the program itself).
Second, you really need to follow this book in sequential order. If you start with Chpt. 5, you'll find that the explanations are incomplete: Franson says things like "I did this just like in Chpt. 3). Fair enough, I don't need my hand held all the way, but the truth is that many people will skip the chapters that deal with textures they aren't interested in.
Third, this book stops with Photoshop. Someone mentioned not being satisfied with his/her results when imported into Maya, and I can report the same experience with UnrealEd. You'll learn how to make a texture look great in Photoshop, but things change when you go to import them into other applications. Franson gives a quick gloss of different editors and engines, but this really isn't a book about how to get your textures all the way into a game. But then there are so many games out there and so many possible applications of the textures, that maybe it's impossible for one book to be all things to all people.
So to sum up, I had a great experience with what this book gave me, but it left me wanting more, more, more!