First off, this book is a collection of seven very long essays by different experts. The essays deal with the minutest details of Roman life, ranging from religious practice to construction to gladiatorial combat and criminal execution. Not all essays are created equal, and there are two in here that I found rather dry, but perhaps that is because I couldn't care less about the specifics of amphitheater construction. The others were phenomenal, and even the "boring" ones contain excellent and useful information.
I read L,D,&E (as I have begun to call it) for an undergraduate class in Roman History and had to write a critical review-type paper about it. I have to say I actually enjoyed the assignment. The book was, overall, excellent. It features real-life "snapshots" of different aspects of Roman life, and unlike many books about Ancient Rome, it doesn't focus solely on the upper classes. It also doesn't spend any time discussing politics or history or "great men" of the times, so if you're looking for that, go elsewhere. This book is NOT an introduction to imperial Rome -- you'll need to have one of those under your belt already -- but it IS the most wonderful, complete, and readable supplementary material available. It really fills in the gaps and answers questions you didn't know you had, giving you a vastly more complete picture of Rome under the Emperors.