First, I should say I am a lecturer at the London School of Economics, so I am a colleague of one of the authors. But we work on different things, I am a macroeconomist, most of my work is theoretical, so I have little interaction with Steve Pischke. I've bought the book, was very well impressed, and decided to post my honest assessment of it here.
Although this book is not written as a 1st-year PhD econometrics book, I think it covers exactly what I wish my first graduate course in econometrics would have covered, I wish I had learned econometrics from a book like this. Unfortunatelly I didn't. While I find the topics covered here intelectually estimulating and very useful, much of what was taught to me in econometrics was boring and ended up being quite useless. Worse, many things that are very important (namely the conceptual discussion behind what we are doing when we do econometrics) are never really covered in most econometric courses, and while I like to think I ended up learning some of it going to seminars, thinking about it, talking to people, I am sure there is much I should know but I don't. This book has been filling those gaps.
I highly recommend this book for all economists interested in understanding and critically evaluating work on applied econometrics and any social scientists interested in quantitative work.