I come from a social science background and found this book invaluable when doing my PhD. My dog-eared copy is testament to the fact that it is a very useful and practical book. It's the kind of book that you pick up and look through when you are desperately trying to make sense of a mass of qualitative data staring you in the face! This is one of the only textbooks on qualitative analysis to give real guidance and procedures to follow, from organising your data to reporting and presenting them.
What is does not give you (and the authors are very up front about this) is a step by step guide to qualitative analysis: if you are looking for 'The Idiot's Guide to Handling Qualitative Data', then this book is not for you. Miles & Huberman expect you and want you to think about the problem you are investigating, and this means planning your analysis before you even start your research!
The book is well set out, although sometimes, by trying to be helpful and giving you many options about how to handle your data, you can feel overwhelmed by the number of techniques and approaches available in this domain.
The final section on choosing software to help with your qualitative analysis is also very helpful, although now slightly out of date as the book was published into 1994.
The main driver of the book is that the authors want you to understand qualitative data and the key differences between this approach and more widely used statistical approaches. And then they expect you to apply this knowledge in an idiosyncratic way to solve YOUR specific problem!
One tip: if your supervisor/boss is not from a qualitative background and you are doing qualitative analysis, this book gives you plenty of important sounding names for the techniques to blind your supervisor with science!!!