This will never replace my beloved New Shorter OED, but it's a better one-volume dictionary than the Concise or Encyclopedic Oxford dictionaries or (my previous one-volume favourite) the Chambers. It "feels" more like Chambers than any previous OED publication - it is unashamedly contemporary rather than historical/etymological.
From a purely personal point of view, I find the Shorter OED more fun and informative - but as a handbook of idiomatic modern English, this will probably be of more use to more people than anything in the "old" Oxford tradition.
If you only have time, space or money for one English dictionary, and insist on it being a single volume, I'd suggest that this is the one you'll find the most useful.