Highly recommended. As a Development Producer with a fair few years in the field, I wasn't sure how much I'd get out of this book. Totally wrong - it was worth every penny. The writing is lucid and amusing and as the previous reviewer says, while it's a bit of text book, it's never dry.
I realised a couple of basic mistakes our development team were making and have already begun to implement changes. There's nothing you can do about the madness of the commissioning process, but there is something you can do to improve your pitches and the odds: buy this book. Now I just need to get the boss to read it...