This is generally a good book covering the subjects of IP, ICMP, TCP and UDP quite well and in some detail. It also included an excellent chapter on IGMP and Multicasting. It's really another book on TCP/IP though, rather than on the subject of the Internet. I would have liked to have seen some chapters on routing particularly such things as OSPF, RIP and BGP etc which are also important to how the Internet works. It didn't cover DNS in any great detail either though I would recommend DNS and BIND also from O'Reilly as the source on that subject.
Generally however as someone who already owns a couple of dozen O'Reilly titles I would say that this book is up to their usual high standards.