I've been avoiding this book for ages because the people on my course made it look obsolete and very beginner-like, and no one wants to be seen as an amateur, but I'm so glad I finally read it.
Michel Chion's writing is full of neologisms which makes it look slightly pretentious, but looking back to when the book was written and knowing that probably only a few people were writing about audiovisual sound, them being Rick Altman, David Bordwell (I think), and possibly no one else prior, his writing is pretty much pioneering. I prefer Jay Beck because he analyses films thoroughly and has much more context and perspectives than other film sound theorists and directors. Michel Chion's writings are way more speculatory in comparison to Beck's.
Chapter after chapter conveys new terms made up by Michel, and the reader is bombarded by all these new ideas that he developed throughout the years as a practitioner and experimentalist of sound in GRM and elsewhere, which sometimes are ambiguous (and even sometimes Michel Chions does confess it does sound ambiguous), but most of the times the ideas are intriguing and challenging, and that is why I think it is worth to read.
Discussing this book with other people who also read it is also interesting. When talking to my mate Travis, they were using this book to contextualise their writing with the concept of time, and even though Chion doesn't explicitly develop a theory about time in art and anthropology, the book managed to provide some inspiration to them.
I think this book should be read to seek inspiration to develop new ideas when making art or films.