Upon first looking through the book at home I was disappointed to say the least.
Firstly, I noticed the lack of exceptional art that was present in the first monster manual. The art isn't exactly bad, but wizards could have done a much better job. The whole presentation of the book seemed a bit rushed and the lack of a hardcover was especially discouraging.
Next, many of the creatures here are not "Creatures of Faerun" but come from other realms. Genasi and Tieflings were from Planescape, and while its nice to have them back in detail for 3rd edition I'd say the title of the book is a bit misleading. When I see "Creatures of Faerun" it would be nice to have the majority of creatures actually be from Forgotten Realms.
Lastly, the price. I understand that this book has more limited appeal and will make less money then the core books, but I don't think that means that wizards should raise the price. For being a softcover book half the size of the core monster manual this book is way too expensive. The book is even more expensive then the core monster manual which is a hardcover!!!!
I don't want people to think this book is worthless. It has its good points. The sheer number of templates in this book make it an awesome selection and the creatures inside (From faerun or not) are absolutely wonderful additions. I just had to point out the flaws for people who are as picky as myself. So if you don't mind paying extra for less, or you need a good monster to stump experienced players then by all means, buy this book!