I read this book back in 2002. At the time I was a first year in a Computer Science degree and this book was a breath of fresh air for practical advice and provided my first understanding for how a game works from the inside-out.
Unfortunately, while the core structure is still true (to some extent) and the underlying algorithms are worth any game programmer knowing (Bresenham's line algorithm, matrix transformations, etc), the technologies used are both platform dependent and, at this time, utterly outdated (DX7 and Win32 SDK). Modern game engines require programmers to understand completely different technologies with entirely differing pipelines. And while I don't see this book doing any particular harm to anyone—given how much things have changed since this book was published—it will waste your time.
If you want to learn game programming, find another book. Something more recent. There are dozens, if not hundreds, on the subject.