This is a helpful book overall and will make a good reference for studying various genres of the biblical books. That is probably the most helpful aspect of this book: helping the reader to understand the qualities of each genre of biblical books (e.g. narrative, poetry, prophecy, etc.) and how the qualities of each genre guide our exegesis of the book and interpretation of it. I plan to use this book as a reference in the future when I teach different books of the Bible. I might even use it when I teach a class on biblical interpretation because it has a lot of helpful material.
However, I cannot recommend this book to anyone because their primary and most basic rule of hermeneutics (interpretation) is faulty in the way it is stated. Their primary rule is: "a text cannot mean what it never could have meant to its author or [original] readers." (p. 77) I know what they are trying to guard against with this rule, and I agree in general with that precaution. They are trying to guard against someone trying to make a text mean whatever they want it to mean through allegorizing it or taking the "what does this mean to you" route. Certainly, many bad and harmful interpretations have been made because people have thought a text could mean anything if they can somehow make a case for it.
However, this rule, particularly in the OT books, violates how the NT interprets the old and what Jesus Himself says to us about Himself in the OT in Luke 24:27: "And beginning with Moses and all the Prophets, he interpreted to them in all the Scriptures the things concerning himself." This does not mean that Jesus is in every verse or behind every object, but He is in ALL the Scriptures, as the text tells us. The whole OT points us to Him, including the narratives and other genres besides prophecy. Yet, I seriously doubt that all the OT original readers and authors would have known that at every place Jesus did. For example, Jesus points out in Jn. 3:1-15 that He is typified in the serpent that Moses lifted up in Nu. 21. He is pointing out that while it is a real, historical story in Nu. 21, that story pointed beyond the direct meaning Moses and the original readers knew to Himself.
Given that the authors of this book violate their own rule in a few chapters (i.e. those on prophecy, the psalms, and Revelation), and how they try to accommodate Paul's use of the OT in 1 Co. 10, they would probably answer, "Yes, well Jesus can do that because He is inspired but you cannot," which is basically what they said about Paul. Yet, that is not an acceptable answer. I agree Paul was inspired by the Holy Spirit and Jesus is God Himself, so they know what I do not, but that does not change the simple fact that the meaning IS THERE in the passage, even though the OT human author and audience did not know it. That shows their rule is too restrictive.
And, of course, it makes sense that their rule would be too restrictive because the Holy Spirit is the true author of all of Scripture. He is the one who inspired the OT authors to write, so He certainly could have inspired books that have a level of meaning to their original audiences that take on a new level of meaning IN LIGHT OF THE NT. Because of that, I would suggest an update of their rule for interpretation: "a text cannot mean what it never could have meant to its author or [original] readers, IF they had access to the revelation of Christ in the NT like we do." That is, if the original author knew what we know about Christ, would he have looked at what he wrote and said, "Ah yes, I see it now in the light of Christ." This still keeps good constraints on interpretation because it does not allow us to make the text mean whatever we want, but it also allows for the OT to be read in light of the NT and to see the mysteries God hid there but now fully revealed in Christ (Col. 1:24-29). As B. B. Warfield, the great Princeton theologian, wrote: the OT is like a room full of wonderful furniture but the light is off, but with the NT, the light is turned on. We must interpret the OT in light of the NT; not just within itself.
I suspect the authors do not want to allow this for perhaps two reasons (at least): First, they obviously have a dispensational view of the covenants and OT and NT, so they would not agree that the OT is as strongly related to the NT as those of us who understand covenant theology; second, they have a narrow view of inspiration, believing that the Holy Spirit can only inspire an author to write that which an author can completely understand. These are theological presuppositions that they do not defend at all when they state their rule, and they are presuppositions with which I do not agree, so I cannot fully endorse this book. There are many who might not notice these presuppositions, and then would read the Bible, especially the OT, and miss how it all has Jesus at the center. Such reading of the Bible is what leads many, many preachers to make the OT stories simply moral examples and not gospel-centered.
That being said, I think their initial rule is broken, which means how they interpret the Bible, especially the OT, will be defective from the beginning. (Also, they do not really keep this rule consistently anyway, for they seem to feel free to violate it when working with the psalms, prophets, and Revelation.)
That, however, does not mean this book is not useful. Its discussion of translations and the translation process is good (though biased because both of them are on the NIV translation board and so, unsurprisingly, they applaud the NIV and downplay its major competitors like the ESV). Their chapters on each biblical genre is really helpful, and generally their hermeneutical rules for each genre are accurate (though some do depend on their primary rule, so those need to be modified too). So, I will use it in the future, but I will not be giving it out because of their primary rule. If you do not know how to filter that, it can lead you in a very wrong direction of interpretation.