It's worked for a few people I know that have tried it. It's more of a lifestyle book than a specific diet, and it's very doable. If you follow the exercise and eating guidelines, with an emphasis on portion control, the results should be noticeable.
I just borrowed the book and read through it. It's definitely reasonable in terms of its recommendations and guidelines. Nutritionally, it makes sense, and relies on weight training to boost metabolism along with eating the right foods. If you were planning to lift moderately in order to lose weight anyway, this is a book you can follow. I gained some weight since college, since I basically stopped lifting at all, so I plan on getting back to that pretty hard and am using the book for some diet guidelines.