Pros: presenting refactoring as a regular part of the development process is an important step forward. The example at the start of the book is a great demonstration if why this stuff matters. Nice to systematically catalog code smells. Cons: the code smells section is great, but has no actual code ...
If you want to learn the principles of XP, this is THE book. If you want to learn the practice of XP, there are better alternatives. The ideas and motivation of XP are explained clearly and concisely. It's a short read, but fairly convincing. However, if you learn better from examples, this book doe...