I believe that this book was sort the beginning of the transition from first to second edition, however it is now, like most of the other books released around this time, pretty much obsolete. Mind you those old books, if you toss away the rule components, or at least attempt to upgrade them, can still be useful for source materials, however some of them, like this book, are pretty much useless. Mind you, unless you are running a game set in Greyhawk, this book is pretty much useless anyway (and I suspect that even if you are running a Greyhawk adventure you will still find it pretty useless).
Dungeons and Dragons is a funny game, and there are still churches out there that call it the tool of the devil and that we should have nothing whatsoever to do with it. I think that is a little narrow minded, but then again a lot of these churches are fundamentalist to the extreme and teach that if you do not believe in a literal seven day creation, or a pre-millenialist view of the end times, them you are watering down the gospel. However, I have also heard it used where the speaker clearly does not actually understand anything about the game in and of itself, and this is worse because their attacks are based on ignorance.
My problem with Dungeons and Dragons is more on the aspect that it can, and does, take up an awful lot of your time. I would spend lots of time finely crafting an adventure hat would only be played once, if ever. I would also spend bucket loads of money on books that I would probably never use and are now sitting in plastic crates. Hey, even as a teenager, my obsession with Dungeons and Dragons was so great that I would fly into fits of rage if I could not play it, and I even resorted to shoplifting to get the books I wanted (and also proceeded to get caught and punished).
These days though, I still like it, and have even played it recently, but really have no desire to sacrifice the time that is required to play the game properly. With the internet it is much easier to find groups (through websites like Meetup) and easier to bring together groups. However, that was always problematic because it was hard to ever find a good group, and sometimes one bad player will join the group which ends up ruining the game for everybody.