This is basically a sound book. Be careful and make sure you buy the second edition, it is much revised and expanded on when compared with the first edition. As of autumn 2006 the second edition is a fairly good match to the current LPCI exams.
It is an awfully thick book (just shy of 1000 pages), which does make it a bit unweildy. It does cover LPI 101, 102, 201 and 202 - note some books only cover 101+102.
Each section starts with an overview, you then get some commands, examples, some explanation and a mini-command overview. Scattered along there are exam notes and tips.
At the end of each exam level you get an exam review, some exercies to try and a set of sample questions and answers.
So far I have found a few typos in my second edition first print, check with O'Reilly they usually have errata on their web site, and these may be fixed in later reprints. Given the size and density of the book this is hardly surprising but do try things out and cross-reference things with other sources.
I have also found that to some extent the book is a little dated already, for example it talks about XFree86, yet almost no distro uses this anymore (X.org being the current standard) and the LPI also refer to X.org rather than XFree86. In a fast moving area like Linux this is always to be expected, but forwarned is forarmed!
Like most recent O'Reilly books it is Safari enabled, you get 45 free subscription to their on-line service - should you wish to jump though the registration hoops.
Do not use this book in isolation and expect to pass the LPI exams. However it is a good basis to build your study plan on top of. Do not forget the freely available Rute User's Tutorial and Exposition and IBM Developer Works LPIC notes.
