The Book of Chuang Tsu is the other great work of Taoism (as opposed to general Chinese masterworks) and is considerably different to the Lao Tzu/Tao Te Ching. It consists of short stories, often with Confucius and other legendary figures as participants - illustrating aspects of the Tao and of Chuang Tzu's thinking. (Or in the case of Confucius more often demonstrating what not to do.)
The stories are interesting, (and central) but if you are looking for an introduction to Taoism or the thinking of Taoism I'd recommend you read the Tao of Pooh first (Ben Hoffman).
As I have only read this version, I cannot comment with any authority on the merits of the translation. Though Martin Palmer is a bona fide thinker in that he is not a mere academic translating a text - he is someone who has feeling for the Tao. (He has written lots of other stuff which suggests this.) Which is a good thing.
There is much wisdom in this book, but it is not preachy. Recommending a classic of literature like this is like reviewing and recommending the Bible or any other ancient text. But it is not preachy, and expects nothing of you than to read it. This is what all good books are about. Recommended!