I think that it is a great book for a bible study.
It brings out errors in some of the modern day churches and compares them with some of the early church problems that the apostles also had to deal with. I have found it very helpfull in my understanding of the gospel truth from the standpoint of the bible.
John Macrthur always does a great job with his writing. In his book, "The Truth War", he reenforces my feelings toward what I have come to call "The Feel Good hurch". I have not read a book by Macrthur that I did not enjoy while gaining a deeper understanding of my own feelings.