I dont know what other people are saying about this guide, but i can tell you, from my personal experience, that this is a GREAT book.
When you first get the book, the opening chapter was confusing to figure out, after 2 hours of monkeying around i got it. After that, everything else went smooth. And i am learning really cool things. The end of the chapter exercises are fun, not to challenging, but enough to make you learn.
How to Hate this Book: Know about XNA when you buy it, and also have a good grasp on particle systems, controls, cameras, vectors, matrices, primitives, adding models, animation, hit detection.
How to Love this book: Dont know anything about XNA, But have some knowledge of what a vertex is. Or what a Color is, Drr?, and most of all.... Dont just expect to know how to be a bomb programmer just by reading this book. Books are just instruments to give you insight into a complex machine. Most of the learning should be done by experimentation.
Example: Page 73: "Spend the time you need to ensure that you understand transformations. It is not an overly complex topic, but it can be challenging for beginner graphics programmers who do not give transformations the learning time the topic deserves."
So if you keep a self learning mentality, you should find this book VERY VERY VERY VERY HELPFUL, I would recommend it to any who does not know a thing about programming 3D, but has a pretty decent knowledge of physics, math(calculus), and 2D programming skills. This is what is going to boost me to the top. ;)
-------------------------------Update-----------------------------------
So its been a while, and i am just finishing up Chapter 17 "Ballistics." This is still an excellent book. I only have one beef with the book, and that is, it has awesome explanations of matrices and such, but when doing the camera tutorial, the auther assumes you have fully mastered matrices, and understand all. With that said, it still deserves the rating it received. This is a beginners book, and should be treated as one.
My advice would be to buy this book if you do not understand anything about 3D programming. This could be the start that helps you become a Game programmer, rather than just a hobbyist. (as in someone who can make a cube move around the screen).