Read this to my seven-year-old over the course of a couple nights before bed. The episode of this story is obviously more visual, but this is a nice novelization. Arthur books are always worth reading, and we are enjoying the chapter books. This makes a good addition to the family library, as my son is already eager to read it to himself.
ETA: I don't think this book will work for you if you are not already a fan of the show, since much of the tension depends on knowing the characters well. However, for fans of Arthur, this is a nice, if average, story.