This is an important book and I'm really glad that I read it, especially since I'm most certainly its intended audience -- a very privileged (on almost every axis) white man. It describes very well the many ways that privilege affects almost every aspect of modern life, including many subtle ways that I had never considered. It also nicely describes the massive amount of almost invisible institutional racism that pervades our society, and how that resulted from centuries of imperialism and capitalism by our (mostly) white, European and then American forbears.
It is most certainly not a perfect book. It is highly repetitive and there are many examples of correlation equals causation, proof by anecdote, and appeals to authority. And the authors don't hide their political views and opinions on policy (which would be strongly debated by many other groups). But despite these flaws, it is effective and thought provoking, albeit often uncomfortable. It is definitely a worthwhile read -- especially for the us, the privileged whites.