The book is well organized and presents the various capabilities of Exchange 2000 in a useful manner. I found it to be a very good grounding in all of the basic knowledge that you would need to install and administer an Exchange Server/Organisation.
I noticed some errors in the book, but they are few and do not distract from the usefulness of this book in preparing for the 70-224 Microsoft Exchange MCP Test.
However it does not teach you everything you should know (information you gain through practical experience and "just by knowing the product"). My first attempt at the 70-224 Test was not successful (I just missed it by a couple of points) which served to show me the level of my own knowledge and the level of information that this book provides (Tip: check out also the functions of utilities like ESEUTIL and ISINTEG). So don't rely on this book to supply the complete works ! But as I said before, it is very good for the basic knowledge.
A major criticism that I have of the practice tests provided with the book is that they are all too simple! The test questions in the book are mainly short and simple, or describe a scenario which is not too complicated. In the real test, the questions are generally quite complicated scenarios; much more complex that what is provided in the book. In the real test that I experienced, there were very few simple questions. Maybe that I did so well in the test (just missed a pass mark) is a good recommendation for using this book?
My own practical background in Exchange helped a lot. 4 years with Exchange 5, 12 months with Exchange 2000; installed multiple Exch2000 Clusters and FrontEnd/BackEnd-Servers plus "normal" standalone Exch2000 Servers.