I first made use of this book as an MA student with a highly-developed fascination with the former Yugoslavia. I found it, and Noel Malcolm's volume on Bosnia, invaluable.
Of particular note is the chapter exploring the (in)famous 1389 Battle of Kosovo Polje - Malcolm does a superb job in deconstructing the myths that have grown up around said battle (why did this particular battle become so important to the cause of Serbian nationalism?) and trying to get at the truth behind them.
My one concern with this book is why Malcolm thought to use the sub-title 'A Short History'; at over 500 pages, it's anything but!