A quick and easy read. Whilst I agree with much of what the book says, I don't think it's anything brilliant as far as being a book goes - no amazing revelations to improve your development.
Basically, it says current software development is pants (no surprises there) because, although we know how software should be developed, we don't actually apply that knowledge in real life, ending up stuck in a rut with code-and-fix development. McConnell argues that for improvement we need to adopt an "engineering" approach, which ultimately will require certification and/or professional licensing of developers. He believes this should filter out the waste-of-space developers, leaving folk who know what they are doing.
Worthwhile reading, and all good advice, but no amazing insights that I hadn't heard before. I'd rate it at 3.5 stars.