The first 90 pages of this book are primarily hagiography. Which is a shame because overall Lukacs was undoubtedly one of the greatest thinkers of the 20th century, and certainly one of the greatest, if not the greatest, Marxist thinker of the 20th century. But Lukacs interjects that no, Lenin is in fact the true genius of our time, since Marx. Where as Marx gave us the theoretical cunning to wage class warfare, Lenin consummately put it into practice.
Lenin's true genius, according to Lukacs, was to always be aware of the 'actuality of revolution' at all moments. All his books, essays, and actions, need to be considered in their historical moment, while simultaneously considering how Lenin saw the revolution as actually becoming, not just possible, or inevitable.
The Postscript to the book prevented me from giving it a slightly lower review. Lukacs acknowledges that he was a bit overzealous in his praise of Lenin, and then offers some insightful criticisms both of his own book, and Lenin too. Lenin and Leninism is not a ready made theoretical-practical apparatus that can be applied today, nor does his theory of imperialism have much to tell us. Also Lukacs is quite critical of Stalin, the perversion of Stalinism, and calls for a new practical outlet of Marxian theory.
Overall a good book to read about Lenin in the historical context of the 1920s, but this is certainly not a timeless piece of philosophy, or theoretical insight.