Kurt Busiek clearly understands Spider-Man. He knows how to write a classic Spider-Man as seen in the 60s and 70s, but with a more modern narrative. He understands how to properly balance Spider-Man with Peter Parker, or drama and comedy, and all around he really knows what he's doing. This book is a great callback to the early days of Spider-Man told throughout random points in his career. For someone new to Spider-Man it could be quite different, but still it's self contained enough that you would not feel too lost. However, if you are a longtime fan of Spider-Man, and you know alot of the basic plots from the old day, you likely will be able to figure out exactly where these stories fit in basic Spidey history.
For the most part, this book gets a glowing recommendation, but I will give a couple points of criticism. For one, the art is a little inconsistent, but considering how much you're getting here, that's usually to be expected. Secondly, while the writing is bang on it's mark, one must remember that the mark here is silver and bronze age comics, so it does get a little clunky and wordy from time to time, and seeing as it's just telling random stories from Spider-Man's past, it doesn't exactly lead anywhere or build up to anything. It's not enough to make this a bad book by any means, but it is enough to drag it down a little bit, so you've been warned.
As for the book itself. It's about as good as any Marvel Omnibus. It's a red pleather-bound, hardcover book with a dust jacket as seen in the product picture. The spine is a little weak, but holds up pretty well, and the reprinting of these comics are about as quality as always. Though there is the occasional black page where I imagine an ad was supposed to be, but not too often, thankfully. Certainly not as often as it was in the Age of Apocalypse Omnibus.
All in all, this book is a good read. It's nice, big, well made, well written, and for story and packaging, I'd give both a four out of five, so given Amazon's $58.00 price tag, I'd say it's worth your money. Take a chance.