I am a math and physics student, and I was in two courses where this book was the "official" text. In the first course, the professor was very hopeful at the beginning of the semester. As we progressed through the course, it became apparent that many of the problems were incorrectly formulated, leading to impossible, nonsensical, answers, or to none at all.
In the second course, the professor---a top researcher who wrote his PhD thesis under Dr. Steven Weinberg---told us on the first day, "The book is posted as the official class text, but you can sell it back right now. If I use any problems from this book, I'll make copies for you." The professor taught from his personally created notes for the course, which were excellent.
From the perspective of an average undergraduate physics or engineering major who is taking his or her first transition-into-upper-level-physics class, this book by H.J. Pain is an overwhelming, confusing sludge of unclear derivations, incorrect problems, and a whimsical ordering of material. The problems are often challenging---but you cannot solve the majority of them after reading the corresponding chapter. Furthermore, many of the problems are errorenous, lead to physically improbable, or even impossible, results, sometimes with incorrect units for the desired quantities. I posit that the only reason someone should own this book is to be able to copy down the assigned problem from class.
Looking at the text right now, I think I could learn---or have learned already!---how NOT to present the material. Much of the material is more suitable for an upper-division optics class. For example, the very first chapter, which begins talking about specific mechanical oscillators with no introduction to the material, later makes a terrifying jump cut to "Superposition of Several Waves" and "Polarization of Light". Much of the later material is haphazardly ordered, and some of it is even from upper-level or graduate courses on condensed matter!
This brings me to another major fault: the author provides very little, or zero motivation for the physics discussion. This accompanies great leaps of faith in the derivations, as well as seeming mathematical "miracles", leaving the freshman or early-sophomore (1st year and 2nd year, respectively, for those of you overseas) behind in the mathematical dust.
Not only does the author make transitions that are difficult-to-follow, he seems to taunt his readers with confidence-crumbling "obviously"s, "it should be clear to the reader that", and other such phrases, instead of, perhaps, parenthetically justifying the next step (e.g. "by conservation of momentum", or "subsituting from Eq. 6.2 and dividing both sides by common terms,"). Looking back, I can see how to tie the material together, but that knowledge comes from optics and modern physics courses I've taken, as well as background reading.
NEEDLESS TO SAY, The UT physics department has DONE AWAY WITH this book and has gone back to the Berkeley Waves course:
http://www.amazon.com/Waves-Berkeley-Physics-Course-WAVES/dp/0070048606
And the MIT Vibrations and Waves book by A.P. French:
http://www.amazon.com/Vibrations-Waves-M-I-T-Introductory-Physics/dp/0393099369
Some professors also use Hecht's "Optics":
http://www.amazon.com/Optics-4th-Eugene-Hecht/dp/0805385665/
I sincerely hope you enjoy your study of waves and find the resources you need.