Having read other "Five Views" books before, I really looked forward to this one. However after finishing the book I was somewhat disappointed. Of the five views presented, only three of them struck me as really different from each other: the Wesleyan, Reformed, and dispensational views. The Pentecostal and Keswick views sounded far to similar to the other three to justify their inclusion. In fact, the responses of the authors to each other's essays was almost always "this view is so similar to mine." While that was nice because the debate was never uncharitable, it really just seemed too repetitive.
It would have been better to keep the three views I mentioned above, the Wesleyan, Reformed, and dispensational, and added a fourth view that was tragically not mentioned in the book: the so-called "Oberlin" view of sanctification. This was the view propounded by Charles Finney and Asa Mahan. Though Oberlin professors themselves had slightly different views on the subject, President Fairchild best pinned it down in that Oberlin sanctification does not have the "second blessing" distinctive that Wesleyan sanctification has, but does teach that it is possible to obey God completely. That view is very important historically, and as I said, was not even mentioned in the book.
There are however, occassional discussions in the book that I found myself appreciating that were well referenced.
As it stands now, I'd not highly recommend this book. I would recommend "Wholeness in Christ" by Greathouse for a good presentation of Wesleyan sanctification. Then I'd say to pick up another book (though I haven't found a great one yet) for a presentation of Reformed sanctification. I think the only way to learn about Oberlin sanctification is to read older books by Finney on the subject.
I had to read this book while taking a college course on ethics. I found the studies to be very thought provoking with some having stronger, biblical arguments than others.
I had some problems with the strong remarks held by Dieter and Hoekma for Stanley Horton, the only Pentecostal of the five scholars. Horton, a very graceful and well educated man whom I have met, gave an excellent treatment to the Assemblies of God approach to the doctrine of sanctification. Dieter (Wesleyan) and Hoekma (Refomed) treated Horton with much contempt while not arguing against his points using various texts to back up their points.
I would encourage you, if you are like me and you enjoy studying various theological camps on many issues, this is a book you will enjoy reading.