This book is simple, a little cheesy, but unexpectedly fun. The characters aren't generally anything to write home about, the plot is mostly inflicted upon them, while their own actions don't seem to directly affect anything which happens.
Taken on its own as a stand-alone, this story leaves rather a lot to be desired. However, the book was written as a prequel to Stasheff's long-running "Warlock" series, and so the flaws of Escape Velocity itself can generally be forgiven, as the plot really serves to explain where a number of the elements of that series began.
The best of these characters would be revisited in "The Warlock Wandering", published a few years later.
Other than as background, where this book shines is with it's large selection of terrible puns and wordplay in the dialogue. This is classic Stasheff, and he really hams it up here.
Also, this book, like the later "Warlock Wandering", spends a fair amount of time dealing with issues of democracy and totalitarianism, and the importance of education to a functioning society. The points here tend to be made simply and without sophistication, but this does not detract from their truth.