I used this for travel in Honduras and Nicaragua. I found it to be extremely unpredictable in quality. If you are only taking one guide, I guess it will probably be this one but I there are some drawbacks to be aware of.
The guide is over enthusiastic about everything which makes it difficult to select where is worth travelling to. For example, it recommended Santa Rosa in Honduras for extended stays but there was nothing going on there and the guide had no real ideas for activities. I think it is important to use this guide alongside other resources, such as other guides or internet sites. For hostels, we used TripAdvisor as that allowed us to get a better idea of what the places were actually like. I find Lonely Planets have an unhealthy obsession with decor in hostels-I'm more concerned about the cleanliness and beds to be honest. One hostel which was highly recommended in Leon has got appalling reviews on TA and lots of people saying that LP sent them there and they were shocked by the place.
A really important issue for Nicaragua was that the guide was appalling for restaurant. Every place it recommended was horrendously touristy and normally Americanised. Actual budget options such as comedors were ignored in favour of bars with much more expensive food. My most awful experience was going to their most highly recommended restaurant in Leon and being served the worst meal I had in Nicaragua. All of our food was cold, none of it was special and it was the most expensive meal I had out. You are much better off asking hostels for recommendations.