Of the Alan Watts lecture transcripts in print, this is a good read, though not as tightly edited and expressive as his finest in this line of works, which I believe to be "Buddhism: The Religion of No Religion."
The finest points in this book are revealed when Watts' describes the motivation behind meditation, emphasizing the pleasure one receives in the practice in itself, as opposed to practicing in hopes of it producing pleasure in the future. He keenly dismisses practicing any religion out of necessity, obligation, or hope of reward, and instead drives home the notion of religion and meditation as sources of expression and enjoyment.
Still, if you are going to pick only one of Alan Watts' lecture series, then "Buddhism: The Religion of No Religion" is vastly superior to this work. If you enjoy any of his lecture series, I strongly urge you to seek out his lengthier written projects like "The Way of Zen." Watts had quite a way of making Zen Buddhism tangible to the Western reader.