I know there are many editions of this book, but mine is the one with a cityscape on the cover with stonehendge reflected on the water. Anyways, getting to the point...
I'm a history education major, and I found this book to be one of the best comprehensive world history books i've come across. The subject matter is presented in a fairly non-biased perspective, sticking mostly to the facts. Even to someone who already knows a lot about history, this book is a great reference. If you don't know a lot about history, this book will help you become an expert.
The book itself is quite beautiful. There are many maps, graphs and illustrations of relevence to help capture the period. One of the key features of the book is that it features web links to many other relevent sites to whatever concept the book is talking about, helping greatly in research projects. At the end of the book, there is a great glossary to look up things you may not know about.
If you enjoy this book, then I also reccomend the "Oxford Atlas of World History" by O'brien, or if you want a more detailed study of American history then I reccomend "The Story of America" by Weinstein and Rubel.
All in all, this book is well worth it's higher cost.