In my opinion the best book for D&D thus far.  It keeps the best parts of basic through 3.x, while simplifying the magic item creations.  It is in no way like 4.0( a paper based video game).  I love how they brought back the stone tell for the dwarfs, the passage detection for elves, and other amusing racial abilitys that the races had in 2nd edition.  Fantastic art work to boot.