I'm new to Great Modern Literature (the closest thing I've read is Kate Atkinson), but this served as a fine introduction, as the dominating subject matters are familiar enough for the reader to get to grips with the style. In agreement with other reviewers, it's not one to read in small sections - though it can be taken a chapter at a time, I got my greatest enjoyment when reading 150 pages in a single sitting.
It's a book with massive scope, providing us with a vivid sense of time and place as it stretches across more than fifty years and most of the globe. It's not only a love story and an exploration of mythology and the world of rock'n'roll, but an exciting and richly-woven tale of interlinked families, and along the way it deals with all sorts of unusual-but-interesting concepts, from the goat industry to pirate radio.
It's certainly not perfect. Though the three main characters are complex, it's overwhelming singular frustrating personality traits that are usually in evidence. We lose hope of seeing Vina as anything other than a diva, Ormus anywhere other than lost in his own world (literally!), Rai as anything but pathetic, though we sympathise with all of them. Further, all of them possess talents too extreme to make them believable: perhaps they're meant to be seen as the heroes of myths but this is hard to keep in mind, considering the book's mostly-realistic setting.
Their tale rambles and repeats, the pace flags and passages reek of "See how intelligent I, Salman Rushdie, am! I am mighty, and therefore I shalt get away with discussing pretentious notions that you ordinary mortals would never dare voice to your mates down the pub!" However, spookily, whenever I was thinking "Whatever happened to name_of_secondary_character? I want to see more of them", they'd be back in the next section. And the novel is undeniably a feat. It's impossible not to be left in awe of Rushdie's knowledge, the humour in his rewritten history of rock, the way he interests us in the most irrelevant of subplots, the atmosphere he evokes of politically-troubled India, acid-addled 60s Britain and even the airspace above the Iron Curtain, the thrilling twists, and the deft-handling of the rock world - we're shown Rushdie has the ability to write indulgently of its luxury and decadence, but instead chooses to allow many aspects of the characters' lives to be focussed upon. These aren't seamlessly bound together, but most of the strands are enjoyable enough separately.
I hear most of Rushdie's other novels are better, so I'll be moving on to them, but I believe this one's worth the (very long) read.